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(v)
Appendix E(3) (cont'd)
EXAMPLES OF SALARIES TAX PAYABLE BY VARIOUS TAXPAYERS
WITH SAME INCOME LEVELS AND HAVING REGARD TO THE PROPOSED INCREASES IN PERSONAL AND CHILD ALLOWANCES
AS WELL AS THE PROPOSED ADJUSTMENT TO THE 3RD TAX BAND
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Example 1 Annual earnings of $66,000 (i.e. $5,500 per month)
Single with two
dependent
Married with no
Sing
Single parents
children
children
Married with two
Married with two children and two
dependent
parents
($)
($)
($)
($)
Salary per annum
66,000
66,000
66,000
66,000
66,000
Less: Personal allowance
29,000
29,000
60,000
60,000
60,000
Additional allowance (subject to 10%
clawback)
1,800 1,800
10,000
10,000
10,000
35,200
35,200
NIL
NIL
NIL
19,000
19,000
Less Child allowance
Dependent parent allowance
Net chargeable income
Tax payable thereon
Effective rate
I
18,000
E
18,000
35,200
17,200
NIL
NIL
NIL
S — —====
======
3,780 1,220
NIL
NIL
NIL
===
======
5.7%
1.8%
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· 79.
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