Income Tax Calculator
Description
This is an example of income tax calculator. This document is useful for calculating income tax.
Shared by: Richard_Cataman
Tags
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- 11750
- posted:
- 9/16/2008
- language:
- English
- pages:
- 1
Document Sample


Income Tax Calculator
Permanent Company Self
Employee Employed
(PAYE)
Gross Income 65238 65238 65238
Expected Expenses 0 15000 15000
Net Income 65238 50238 50238
Tax Rate Band
19.50% 0-38000 7410 7410
33% 38001-60000 7260 16578.54 4038.54
39% 60001- 2042.82 0
Tax: 16712.82 16578.54 11448.54
% of Gross Income: 26% 25% 18%
% of Net Income: 26% 33% 23%
Note: there are other factors to consider - e.g. contractors get a premium on their rate, ACC costs, etc
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