| |
|
Present tax payable
(Exemption level: $237,000) |
Proposed tax payable
(Exemption level: $306,000) |
|
|
|
| |
Annual income |
Amount |
Effective rate |
Amount |
Effective rate |
Tax Saving |
Remarks |
| |
|
(A) |
|
(B) |
|
(A) - (B) |
|
|
|
|
($)
|
($)
|
(%)
|
($)
|
(%)
|
($)
|
(%)
|
All taxpayers earning less than $3,126,000 will benefit
from the concessions. |
| |
264,000 |
540 |
0.2 |
- |
- |
540 |
100.0 |
Taxpayers with incomes not exceeding $306,000 will
not be required to pay tax as a result of the increases in the basic, the child,
the single parent, the dependent parent / grandparent and the additional dependent parent / grandparent allowances. |
|
288,000
|
2,280
|
0.8
|
-
|
-
|
2,280
|
100.0
|
| |
312,000 |
5,100 |
1.6 |
120 |
< 0.1 |
4,980 |
97.6 |
|
| |
336,000 |
9,000 |
2.7 |
600 |
0.2 |
8,400 |
93.3 |
|
| (1) |
360,000 |
13,800 |
3.8 |
2,030 |
0.6 |
11,770 |
85.3 |
|
| |
384,000 |
18,600 |
4.8 |
4,110 |
1.1 |
14,490 |
77.9 |
|
| |
408,000 |
23,400 |
5.7 |
6,990 |
1.7 |
16,410 |
70.1 |
|
| |
432,000 |
28,200 |
6.5 |
10,920 |
2.5 |
17,280 |
61.3 |
|
| |
456,000 |
33,000 |
7.2 |
15,000 |
3.3 |
18,000 |
54.5 |
|
| |
480,000 |
37,800 |
7.9 |
19,080 |
4.0 |
18,720 |
49.5 |
|
| |
504,000 |
42,600 |
8.5 |
23,160 |
4.6 |
19,440 |
45.6 |
Taxpayers earning more than $306,000 but less
than $3,126,000 will have reduced tax liabilities as a result of the
increases in the basic, the child, the single parent, the dependent
parent / grandparent and the additional dependent parent / grandparent
allowances and the revision of the marginal tax bands and rates. |
| |
552,000 |
52,200 |
9.5 |
31,320 |
5.7 |
20,880 |
40.0 |
| |
600,000 |
61,800 |
10.3 |
39,480 |
6.6 |
22,320 |
36.1 |
| |
648,000 |
71,400 |
11.0 |
47,640 |
7.4 |
23,760 |
33.3 |
| |
696,000 |
81,000 |
11.6 |
55,800 |
8.0 |
25,200 |
31.1 |
| |
744,000 |
90,600 |
12.2 |
63,960 |
8.6 |
26,640 |
29.4 |
| |
792,000 |
100,200 |
12.7 |
72,120 |
9.1 |
28,080 |
28.0 |
|
| |
840,000 |
109,800 |
13.1 |
80,280 |
9.6 |
29,520 |
26.9 |
|
| |
888,000 |
119,400 |
13.4 |
88,440 |
10.0 |
30,960 |
25.9 |
|
| |
936,000 |
129,000 |
13.8 |
96,600 |
10.3 |
32,400 |
25.1 |
|
| |
984,000 |
138,600 |
14.1 |
104,760 |
10.6 |
33,840 |
24.4 |
|
| |
1,032,000 |
148,200 |
14.4 |
112,920 |
10.9 |
35,280 |
23.8 |
|
| |
1,080,000 |
157,800 |
14.6 |
121,080 |
11.2 |
36,720 |
23.3 |
|
| (2) |
1,164,000 |
174,600 |
15.0 |
135,360 |
11.6 |
39,240 |
22.5 |
|
| |
1,176,000 |
176,400 |
15.0 |
137,400 |
11.7 |
39,000 |
22.1 |
|
| (3) |
3,126,000 |
468,900 |
15.0 |
468,900 |
15.0 |
- |
- |
Taxpayers earning $3,126,000 or more will pay tax at the standard rate. |
| |
3,168,000 |
475,200 |
15.0 |
475,200 |
15.0 |
- |
- |
|
