Anyone know anything about income tax?

People earning less than 6,475 a year are not taxed. If you earn up to 37k, you are taxed at 20%.

Is the 20% of you total income or is it of the total income minus the 6,475?

Thanks in advancio

Posted By: Charles21 on April 1st 2010 at 12:31:03

Message Thread

Anyone know anything about income tax? (General Chat) - Charles21, Apr 1, 12:31:03
- trust me, I'm an accountant (General Chat) - Tony Martin, Apr 1, 12:40:18
  - I trust you (General Chat) - Charles21, Apr 1, 12:46:29
    - 20%. Lucky bar steward. (n/m) (General Chat) - Steve in Holland, Apr 1, 13:36:09
    - Have you got any benefits in kind? (General Chat) - yarmyyarmy, Apr 1, 12:48:59
      - Do they get free lunch at McDonalds? (n/m) (General Chat) - jamesward, Apr 1, 12:59:43
- minus the 6k figure because that is tax free (General Chat) - ghostof barry butler, Apr 1, 12:34:53
- The later. Isn't it 22% not 20%? (General Chat) - Arizona Bay, Apr 1, 12:32:29
  - *latter (n/m) (General Chat) - Arizona Bay, Apr 1, 12:32:44
    - thanks much (General Chat) - Charles21, Apr 1, 12:34:18

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