Income Tax
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John's taxable income is $85,404.
(i) Find the tax payable on the amount
(ii) What percentage of his income is paid in tax?
\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}
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