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I will appreciate it if you explain how the breakdown below came about
Income tax :
28000 @ 20% – 5600
3785 @ 10% – 378
6215 @ 32.5% – 2020
Can you please be more precise about which example you are querying in the OT notes
The example I refer to, can be found in the ACCA Technical article titled Finance Act 2015
Example 1I await your advice
Thanks
Have you actually worked through the OT course notes and lectures – for this example chapter 2 – before reading the ACCA article, as this should be a very easy example then to answer?! The technical article should only be read in sections as stated at the end of the relevant OT chapters.
It would be better and easier to follow the answer if of course you use the method of presentation in our notes where we put in the analysis columns for non savings income, savings income and dividend income and show the PA being deducted firstly from the non savings income so as to establish the precise make up of the taxable income figure.
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