Tax question

[Acetron]

what is your chargeable income ?

 

[Askonforum]

If you billed $200 tax, you are in the 3.5% bracket. You chargeable income will be around $30,000 per annum. You want to do VC (Subject to prevailing quantum) with an amount to bring chargeable income to $30,000.

Seek professional assistance if you want.

Chargeable Income	Income Tax Rate (%)	Gross Tax Payable ($)
First $20,000 Next $10,000	0 2	0 200
First $30,000 Next $10,000	- 3.50	200 350

So if I was billed $200, I voluntary contribution SA/MA $200, do I still have to pay tax?

 

[rizhal]

Short answer is Yes, you have to pay tax.

Seems you don’t read what people wrote after 4 pages. Waste of our time and effort.

 

[Askonforum]

So if I was billed $200, I voluntary contribution SA/MA $200, do I still have to pay tax?

So it attracts tax relief for voluntary contribution. Do you know is it $200 tax payable for $200 nett tax relief?