Income Tax
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John's taxable income is \(\$85\,404\).
Use this tax table (2024–25 resident tax rates).
| Taxable income | Tax on this income |
|---|---|
| 0 – \(\$18\,200\) | Nil |
| \(\$18\,201\) – \(\$45\,000\) | 16c for each \(\$1\) over \(\$18\,200\) |
| \(\$45\,001\) – \(\$135\,000\) | \(\$4288\) plus 30c for each \(\$1\) over \(\$45\,000\) |
| \(\$135\,001\) – \(\$190\,000\) | \(\$31\,288\) plus 37c for each \(\$1\) over \(\$135\,000\) |
| \(\$190\,001\) and over | \(\$51\,638\) plus 45c for each \(\$1\) over \(\$190\,000\) |
(i) Calculate the tax payable. Give your answer to the nearest cent.
(ii) What percentage of his taxable income is paid in tax? Give your answer correct to 1 decimal place.
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