How much will you save under the new 2008/2009 financial year
taxation changes? As of 1st July 2008, the tax brackets are changing,
which means we all pay less income tax! Download our handy new
Excel-based tax calculator and find out roughly how much you will save.
- Download the calculator [Excel, 72kb]
About Tiering Tables
Calculating an amount based on tiering tables is a pretty complex
formula, and is commonly used in pricing models. There are two types of
tiering tables. The simplest version calculates the entire amount at
the tier. The more complex table, like the tax tiers, is progressive
such that the first number of units at the first tier and the next
amount at the next price.
For example, in the tax table, an income of $8,000 would be taxed at
zero for the first $6,000 and then the next $2,000 is taxed at 15%, so
you would only pay $2,000 x 15% = $300, not 15% on the whole amount.
Want to know more? Learn how to do this as part of our training courses.