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Taxable income
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Tax on this income
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$0 - $37,000
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29c for each $1
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$37,001 - $80,000
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$10,730 plus 30c for each $1 over $37,000
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$80,001 - $180,000
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$23,630 plus 37c for each $1 over $80,000
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Over $180,001
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$60,630 plus 45c for each $1 over $180,000
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Residents are also required to pay 1.5% of Medicare levy if your taxable income is greater than $20,000, which is calculated at 1.5% of your taxable income. Non-residents are not required to pay the Medicare levy.
The first task of the program is to calculate the appropriate income tax for an individual based on a set of inputs by the user and the information provided in the Tax tables above. The user should provide the program with
- Name (the name needs to have at least two names - first name and last name; if not, the program will show an error message and ask the user the name again),
- Annual income/Salary (income) for an entire year (the salary needs to be a positive number and different from zero; if not, the program will show an error message and ask the salary again)
- Residence - if the user is a resident or not.
The program is then expected to display:
the net salary of this particular individual per year and per week, rounded to two decimal places (where appropriate).
The correct amount of tax the individual should pay per year and per week (as defined by the Tax rates above), rounded to two decimal places (where appropriate).
If the individual pays the Medicare Levy and if so, how much per year rounded to two decimal places (where appropriate).