Question
Ordinary Income 1.Johnson is a cricketer. He works for west union club and has received an annual salary. He also earns bonus for every match
Ordinary Income
1.Johnson is a cricketer. He works for west union club and has received an annual salary. He also earns bonus for every match he plays. In 2015/16 income year, he earned salary of $50,000 and bonus of $20,000. Taxable income: 80,000. Required: Tax payable (income tax and medicare levy (2% on total taxable income when taxable income is of $27,068 and over)
0 - $18,200
Nil
$18,201 - $37,000
19c for each $1 over $18,200
$37,001 - $80,000
$3,572 plus 32.5c for each $1 over $37,000
$80,001 - $180,000
$17,547 plus 37c for each $1 over $80,000
$180,001 and over
$54,547 plus 45c for each $1 over $180,000
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