Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Determine the familys total tax payable. Tax(RM) Malaysia Personal Income Tax Rate 2020 Chargeable income Calculation (RM) Tax rate (RM) (%) 0 - 5,000 On

Determine the familys total tax payable.

image text in transcribed

Tax(RM) Malaysia Personal Income Tax Rate 2020 Chargeable income Calculation (RM) Tax rate (RM) (%) 0 - 5,000 On the first 5,000 0 5,001 - 20,000 On the first 5,000 0 Next 15,000 1 20,001 - 35,000 On the first 20,000 Next 15,000 3 35,001 - 50,000 On the first 35,000 Next 15,000 8 50,001 - 70,000 On the first 50,000 Next 20,000 14 70,001 - 100,000 On the first 70,000 Next 30,000 21 100,001 - 250,000 On the first 100,000 Next 150,000 24 250,001 - 400,000 On the first 250,000 Next 150,000 24.5 400,001 - 600,000 On the first 400,000 Next 200,000 25 600,001 - 1,000,000 On the first 600,000 Next 400,000 26 1,000,001 -2,000,000 On the first 1,000,000 28 Next 1,000,000 Above 2,000,001 On the first 2,000,000 30 Next ringgit 0 0 150 150 450 600 1,200 1,800 2,800 4,600 6,300 10,900 36,000 46,900 36,750 83,650 50,000 133,650 104,000 237,650 280,000 517,650 Tax(RM) Malaysia Personal Income Tax Rate 2020 Chargeable income Calculation (RM) Tax rate (RM) (%) 0 - 5,000 On the first 5,000 0 5,001 - 20,000 On the first 5,000 0 Next 15,000 1 20,001 - 35,000 On the first 20,000 Next 15,000 3 35,001 - 50,000 On the first 35,000 Next 15,000 8 50,001 - 70,000 On the first 50,000 Next 20,000 14 70,001 - 100,000 On the first 70,000 Next 30,000 21 100,001 - 250,000 On the first 100,000 Next 150,000 24 250,001 - 400,000 On the first 250,000 Next 150,000 24.5 400,001 - 600,000 On the first 400,000 Next 200,000 25 600,001 - 1,000,000 On the first 600,000 Next 400,000 26 1,000,001 -2,000,000 On the first 1,000,000 28 Next 1,000,000 Above 2,000,001 On the first 2,000,000 30 Next ringgit 0 0 150 150 450 600 1,200 1,800 2,800 4,600 6,300 10,900 36,000 46,900 36,750 83,650 50,000 133,650 104,000 237,650 280,000 517,650

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Jodie Maxfield, Andreas Hellmann, Claire Beattie

9th Edition

1118608208, 978-1118608203

More Books

Students also viewed these Accounting questions

Question

What are collectibles?

Answered: 1 week ago

Question

How do you open and run a script in SQL Server?

Answered: 1 week ago

Question

8. Explain how to price managerial and professional jobs.

Answered: 1 week ago

Question

1. What is the difference between exempt and nonexempt jobs?

Answered: 1 week ago