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Revision as of 07:10, 22 October 2024

Through the proposed DTC / GST legislations, federal government has acknowledged the need for new revenue system nevertheless the proposed new laws apparently appear become even complex then existing one.

But, repair shocking straightforward fact. You pay less tax on the initial dollars of earnings etc . tax from the last coins. Let us assume you are single and your taxable income sums up to $45,000 during the future. Then you pay federal tax in the rate of 10 percent on extremely $8,350 of taxable income. The additional 15% imposed on income between $8,350 and $33,950. 25% is charged on income from $33,950 to $45,000.

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