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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
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).
a) Using the above information you are to construct Fiona's Cash Flow Statement and then explain to her the importance of creating a surplus budget. b) The Net Worth Statement e
Janet (taxpayer) residing in Australia is named as the sole beneficiary of a property (1.85 hectares) with a large homestead as a result of the death of a relative on 7/10/2010.
The second task of the program is to calculate/display a possible investment. First, the program should ask the amount of money that he/she requires (on an average) per week a
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