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Give detailed solution please. Rona personal tax rates are shown below. Her income last year was $210,000 and the first $11,000 earned was tax-exempt. (1)
Give detailed solution please.
Rona personal tax rates are shown below. Her income last year was $210,000 and the first $11,000 earned was tax-exempt.
(1) How much income tax will Weisu pay? (6 marks)
(2) Calculate her marginal tax rate. (2 marks)
(3)Calculate her average tax rate. (4 marks)
Income Tax rate
First $35,225 25.50%
over $35,225 up to $47,630 27.50%
over $47,630 up to $85,259 33.00%
over $85,259 up to $125,000 38.50%
over 125,000 up to $147,667 40.50%
over $147,667 up to $210,000 43.50%
over $210,000 47.50%
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