How much income tax will you be paying in the new financial year? The tax brackets are changing again, which of course, means that from 1st July 2010 we all pay less income tax! Download our handy new Excel-based tax calculator and find out roughly how much you will save.
Starting a new job and want to know how much of that whopping great new salary you’ll lose in tax? Find out!
- Download the calculator [Excel, 94kb]
If you’re a true Excel junkie and think you might need to build a tiered pricing table in the future, you can easily take this model apart and adapt it to your own needs. To do this you’ll need to unhide a column so contact us for the password to unprotect the model.
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.