Appendix E(3) (cont'd)
Example 2 Annual earnings of $72,000 (i.e. $6,000 per month)
Single with two
Married
dependent
with no
Single
_parents
children
children
Married with two
Married with two children and two dependent parents
($)
($)
($)
($)
($)
Salary per annum
72,000
72,000
72,000
72,000
72,000
Less: Personal allowance
29,000
29,000
60,000
60,000
60,000
Additional allowance
(subject to 10%
clawback)
1,200
1,200
9,800
9,800
9,800
41,800
41,800
2,200
2,200
2,200
Less Child allowance
19,000
19,000
Dependent parent allowance
18,000
18,000
Net chargeable income
41,800
23,800
2,200
NIL
NIL
Tax payable thereon
4,860
2,070
110
NIL
NIL
===
===
Effective rate
6.8%
2.9%
0.2%
- 80
+