Answer to Question #317047 in Accounting for Bubu

Question #317047

Tim (under 25) earns a fortnightly wage of R3 050. He pays 7.5% of it to a pension fund and 2% to a union.

Assume that there are 26 fortnights in a year.

If Tim earned the same wage for a full tax year, what would his taxable annual earnings be?

Expert's answer

His taxable annual income is R72274.02

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