Seb's salary is $X per annum. The tax system is such that Seb pays a 15% flat rate of income tax on his salary. The tax system i
2 answers:
Answer:
Seb pays $3750 tax amount under the current system.
Step-by-step explanation:
In the previous system, the tax charge was 15% flat.
So, if the salary of Seb is $x per annum, then the tax amount was .
Again, in the current system, the tax charge is 25% for income above $12000.
If we assume that $x > $12000, then the tax amount is .
As per the given conditions, we can write 0.25x - 0.15x = 1500
⇒ 0.1x = 1500
⇒ x = $15000
Therefore, Seb pays 0.25x = $3750 tax amount under the current system. (Answer)
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