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Tax Brackets Employees are able to reduce their tax by taking salary deductions from four schemes. 20% Tax: Total net salary after deductions is
Tax Brackets Employees are able to reduce their tax by taking salary deductions from four schemes. 20% Tax: Total net salary after deductions is less than 15,000 40% Tax: Total net salary after deductions is between 15,000-39,999 50% Tax: Total net salary after deductions is 40,000 and over Question Work out which tax bracket each employee is in, deductions from gross salary occur before tax bracket is calculated. Q Childcare Vouchers Dentist Insurance Health Insurance 0% 0% Life Insurance Gross Salary Salary Deductions Person A Person B 20% 40% Person C 3% 2% 25,000 50% Person D
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