Appendix E(3) (cont'd)
Present
(exempt up to $47,000)
Single person, with two dependent parents
Proposed
(exempt up to $52,000)
Annual income
Tax payable
Effective
rate
Tax payable
Effective
Tax
rate
saving
($)
($)
(%)
($)
(%)
($)
(%)
54,000
350
0.6
200
0.4
150
42.9
60,000
800
1.3
560
0.9
240
30.0
72,000
2,250
3.1
2,070
2.9
180
8.0
84,000
4,400
5.2
4,050
4.8
350
8.0
96,000
6,800
7.1
6,300
6.6
500
7.4
108,000
9,750
9.0
8,750
8.1
1,000
10.3
120,000
12,750
10.6
11,750
9.8
1,000
7.8
132,000
15,750
11.9
14,750
11.2
1,000
6.3
144,000
18,750
13.0
17,750
12.3
1,000
5.3
180,000
27,750
15.4
26,750
14.9
1,000
3.6
(214,706)
36,426
16.9
35,426
16.5
1,000
2.7
(215,625)
36,656
17.0
35,578
16.5
1,078
2.9
Married person, with two dependent parents
(exempt up to $78,000)
(exempt up to $88,000)
90,000
700
0.8
200
0.2
500
71.4
96,000
1,300
1.4
560
0.6
740
56.9
108,000
3,000
2.8
2,070
1.9
930
31.0
120,000
5,400
4.5
4,050
3.4
1,350
25.0
132,000
8,000
6.1
6,540
5.0
1,460
18.3
144,000
11,000
7.6
9,350
6.5
1,650
15.0
180,000
20,000
11.1
19,000
10.6
1,000
5.0
216,000
29,000
13.4
28,000
13.0
1,000
3.4
252,000
38,000
15.1
37,000
14.7
1,000
2.6
288,000
47,000
16.3
46,000
16.0
1,000
2.1
(305,882)
51,470
16.8
50,470
16.5
1,000
1.9
(312,500)
53,125
17.0
51,562
16.5
1,563
2.9
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