Tax Payable in the Free Investment Property Calculator

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    Patrick Shi
    Keymaster

    Got an email from Tony today, his question is around the tax payable in the Free Investment Property Calculator.

    For the Free Investment Property Calculator, please explain why “Tax Payable” in Cell G55 is equal to Gross Income of Investor x the relevant tax rate?

    Taxable Income = Assessable Income – Allowable Deductions.

    The taxable payable should thus be (Assessable Income – Allowable Deductions) x the relevant tax rate.

    Please advise.

    Thank-you.

    “Tax Payable” in Cell G55 is before any deductions so using Gross Income is correct. For after deductions tax please refer to D63, D64 under the New Tax Payable section.

    Unfortunately Tony did not leave me his correct email so I have to use this forum to clarify this. I hope this might help other users as well.

    Cheers,

    Patrick

    • This topic was modified 5 months, 1 week ago by  Patrick Shi.
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