HI3042 Taxation Law Assignment (doc)

Running head: TAXATION LAW
Taxation Law
Name of the University
Name of the Student
Authors Note
Course ID

TAXATION LAW1
Table of Contents
Answer to Question 1:................................................................................................................2
Answer to Question 2:................................................................................................................4
Answer to Question 3:................................................................................................................6
Answer to question 4:.................................................................................................................6
Bibliogrphy:...............................................................................................................................8

TAXATION LAW2
Answer to Question 1:
Computation of Income Tax Payable
For the year Ended 30 June 2017
a Calculation of Income Tax payable
Particulars Amount
Assessable Income $ 18,000.00
Tax on Taxable Income
Up to $18200 Exempted
Total Tax Payable Nil
b Calculation of Income Tax payable
Particulars Amount
Assessable Income $ 18,000.00
Tax on Taxable Income
Up to $80000 (32.5%) $ 5,850.00
Total Tax Payable $ 5,850.00
c Calculation of Income Tax payable
Particulars Amount
Assessable Income $ 18,000.00
Tax on Taxable Income
rate 30% $ 5,400.00
Total Tax Payable $ 5,400.00
d Calculation of Income Tax payable
Particulars Amount
Assessable Income $ 1,45,000.00
Tax on Taxable Income
Up to $87000 $ 17,547.00
above $87001 $ 23,735.00
Total Tax Payable $ 41,282.00
e Calculation of Income Tax payable
Particulars Amount
Assessable Income $ 1,45,000.00
Tax on Taxable Income
Up to $87000 $ 26,000.00
above $87001 to $180000 $ 23,735.00
Total Tax Payable $ 49,735.00
f Calculation of Income Tax payable