? 16.
EXAMPLES (For Year of Assessment 1989/90)
EXAMPLE A
Husband's Earnings for a year
Wife's Earnings for a year
Less: Husband's Outgoings &
Expenses
Donations
Add Value of Quarters
provided by
Husband's Employer Less: Rent paid to
Employer
Net Assessable Income
Less Personal & Wife
Allowance
Additional Allowance
$2,500
4,500
EXAMPLE B.
pmacijoi ent or
$100,000 62,000 $162,000
20.
$270,000
136,000
$406,000
$1,000
7,000 5.000
$155,000
6,000 $400,000
-
2,500)
NIL
10% on
(100,000
=
$9,750
4,750
5.000 NIL $160,000
*
NIL $400,000
66,000
14.000
66,000
80,000 14,000
80,000
$ 80,000
$320,000
10%(160,000-66,000
(see
8,000 Note) ·
14,000
$ 88,000
$334,000
15,000
22,000
11,000
48,000
48,000
$ 40,000
$286,000
Add
: Clawback adjustment :
(see paragraph 9)
Less Working Wife Allowance
-
14,000)
15,000
Child Allowance (two
22,000
children)
Dependent Parent
11,000
Allowance (one parent)
Tax thereon
$10,000 @ 3% 10,000 @ 6%
10
$
300 $10,000 @ 3%
=
300
600
10,000 @ 9% =
900
10,000 @ 6% 10,000 : @ 9% =
=
600
900
10,000 @12% =
1,200
10,000 @12% 10,000 @15% 10,000 @18%
=
1,200
=
1,500
=
1,800
10,000 @21%
*
2,100
216.000 @25%. : 54,000
$40,000
$3,000 $294,500
$62,400
Restricted to 15%
of $400,000
Tax payable
$3,000 Tax payable
$60,000
Note: No additional allowance where income reaches $220,000 (see paragraph 9)
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