Tax rates, Taxation

Taxable income

Tax on this income

$0 - $37,000

29c for each $1

$37,001 - $80,000

$10,730 plus 30c for each $1 over $37,000

$80,001 - $180,000

$23,630 plus 37c for each $1 over $80,000

Over $180,001

$60,630 plus 45c for each $1 over $180,000

 Residents are also required to pay 1.5% of Medicare levy if your taxable income is greater than $20,000, which is calculated at 1.5% of your taxable income. Non-residents are not required to pay the Medicare levy.

The first task of the program is to calculate the appropriate income tax for an individual based on a set of inputs by the user and the information provided in the Tax tables above. The user should provide the program with

  • Name (the name needs to have at least two names - first name and last name; if not, the program will show an error message and ask the user the name again),
  • Annual income/Salary (income) for an entire year (the salary needs to be a positive number and different from zero; if not, the program will show an error message and ask the salary again)
  • Residence - if the user is a resident or not.

The program is then expected to display:

the net salary of this particular individual per year and per week, rounded to two decimal places (where appropriate).

The correct amount of tax the individual should pay per year and per week (as defined by the Tax rates above), rounded to two decimal places (where appropriate).

If the individual pays the Medicare Levy and if so, how much per year rounded to two decimal places (where appropriate).

Posted Date: 3/8/2013 5:01:06 AM | Location : United States







Related Discussions:- Tax rates, Assignment Help, Ask Question on Tax rates, Get Answer, Expert's Help, Tax rates Discussions

Write discussion on Tax rates
Your posts are moderated
Related Questions
Income tax groupings given by the Internal Revenue Service (IRS) that decide that at what rate an individual, corporation's or trust, annual income will expose to federal income ta

tds late filing fee code & late filing interest code

Melissa Tang has recently sold her stake in Global Manufacturing Ltd., a firm that she founded in 1990, for $15 million. She is now trying to decide how best to invest the proceeds

#queTonya had the following items for last year: Salary $40,000 Short-term capital gain 12,000 Nonbusiness bad debt (25,000) Long-term capital gain 8,000 For the current year, Tony

Roberta Santos, age 41, is single and lives at 120 Sanborne Avenue, Springfield, IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husb

can you help with tax research assignment

What is the amount of tax expense? Describe the controversy with respect to the recognition of deferred tax liabilities?

A1 Evaluate the accuracy of the term "New South" in describing the post-Civil War South, and discuss ways in which the term was and was not appropriate. A2 What was the Indian "

Prepare answers to each of the following questions.  Assume a tax rate of 30%. (i) Harry Ltd has a balance of prepaid rent in the balance sheet amounting to $100 000 as at 30 Ju

a. You are engineering a Leveraged-Buy-Out (LBO) of ACME Industries, an industrial bottle maker. After the LBO, the firm will be financed with 90% debt and 10% equity. Fred Farber,