Calculating Tax
John's Salary is $200,000. His tax allowance is $15,000. What is his taxable income?
$185,000
An allowance for the income earner
What is personal allowance?
What is gross income?
The total amount of money a person earns before taxes.
THROW BACK ------->What is the difference between gross and net salary?
Gross is before taxes
Net is after taxes
An allowance for the husband or wife who is not working
What is Spouse allowance?
Taxes are level by this board?
Board of Inland Revenue
If Blayne pays $105,000 in taxes annually, what is the tax he pays per month?
$8750
An allowance for the child at school or university.
What is child allowance?
When does an individual allowed not to pay taxes
What is the formula for net income?
Net Income= Gross Pay - Taxes
An allowance for the national insurance payments made
What is National Insurance allowance?
What is income tax?
Taxes paid to the government
What is the formula for taxable income?
Gross Income- Total tax-free income
An allowance for the purchase of credit union shares
What is credit union allowance?