Appendix F(3) (cont'd)
(ii) BROAD EFFECT OF THE INCREASE IN ADDITIONAL PERSONAL
ALLOWANCE ON SINGLE AND MARRIED TAXPAYERS
No. of
taxpayers
Single
Full benefit
(ie those with income below
$36,000 or with total
67 000
allowances in excess of their income)
Partial benefit
340 000
(ie those with income between
$36,001 and $105,999)
No benefit
34 000
(ie in situation where income
exceeds $106,000, clawback exhausts allowance)
No effect incane subject to
standard rate of 15%
13 000
Married
Full benefit
26 000
(ie those with incane below
$74,000 or with total
allowances in excess of
their income)
Partial benefit
147 000
(ie those with income between
$74,001 and $213,999)
No benefit
32 500
(ie in situation where income
exceeds $214,000, clawback
exhausts allowance)
No effect
A
income subject to
40 500
standard rate of
15%
TOTAL
700 000
-54-
Remarks
This group receives full benefit from the increase in personal allowance.
This group receives partial benefit from the increase in personal allowance but the full benefit of the revision to the marginal tax rates.
This group receives no benefit from the increase in personal allowance but the full benefit of the revision to the marginal tax rates.
Standard rate taxpayers.
This group receives full benefit from the increase in personal allowance.
This group receives partial benefit from the increase in personal allowance but the full benefit of the revision to the marginal tax rates.
This group receives no benefit from the increase in personal allowance but the full benefit of the revision to the marginal tax rates.
Standard rate taxpayers.
No comments yet.
Private notes are available after approval.