Table 1

-Refer to Table 1 above, which shows the tax levels in an economy.A person earning R12,000 pays income tax equal to

Question

Table 1
 
-Refer to Table 1 above, which shows the tax levels in an economy.A person earning R12,000 pays income tax equal to

Quizplus · Accepted Answer

According to Table 1, a person earning R12,000 is in the income tax bracket of R10,001 – R15,000. The tax level for this bracket is 3% of taxable income above R10,000. Therefore, the income tax paid by a person earning R12,000 would be 3% × (R12,000 – R10,000) = R400.

Table 1 -Refer to Table 1 Above, Which Shows the Tax Levels