Example 5
I
Appendix E(3) (cont'd)
Annual earnings of $150,000 (i.e. $12,500 per month)
Single with two
Married
Married
dependent with no
with two
single
Single parents
children
children
Married with two children
and two
dependent
parents
($)
($)
($)
($)
Salary per annum
150,000 150,000
150,000
150,000
150,000
Less: Personal allowance
29,000 29,000
60,000
60,000
60,000
Additional allowance (subject to 10%
clawback)
2,000
2,000
2,000
121,000 121,000
88,000
88,000
88,000
Less Child allowance
19,000
19,000
Dependent parent allowance
18,000
18,000
Net chargeable income
121,000 103,000
88,000
69,000
51,000
!
:
Tax payable thereon
23,750 19,250
15,500
10,750
6,700
Effective rate
15.8%
12.8%
10.3%
7.2%
4.5%
- 83 ·