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sallyabdul
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Households in City X pay provincial and national taxes on a portion of Updated on: 29 Sep 2023, 01:52
Originally posted by sallyabdul on 14 Jan 2021, 11:57.
Last edited by BottomJee on 29 Sep 2023, 01:52, edited 4 times in total.
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Provincial: 4,500 National: 0
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80% (02:22) correct 20% (02:43) wrong based on 717 sessions

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Households in City X pay provincial and national taxes on a portion of the household income. The provincial tax is 10% of all household income that exceeds the product of 5,000 euros (€) times the number of members of the household. If household income does not exceed this product, no provincial tax is collected. The national tax is 20% of all income that exceeds the product of €15,000 times the number of members of the household. If the household income does not exceed this product, no national tax is collected.

A household has a total income of €70,000 and 5 members. In the table, select the amount of provincial and national taxes collected from the household. Make only two selections, one in each column.
Provincial National
0
4,500
5,500
6,500
9,000
11,000
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Provincial: 4,500 National: 0
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Households in City X pay provincial and national taxes on a portion of 14 Jan 2021, 13:39
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sallyabdul
Households in City X pay provincial and national taxes on a portion of the household income. The provincial tax is 10% of all household income that exceeds the product of 5,000 euros (€) times the number of members of the household. If household income does not exceed this product, no provincial tax is collected. The national tax is 20% of all income that exceeds the product of €15,000 times the number of members of the household. If the household income does not exceed this product, no national tax is collected.

A household has a total income of €70,000 and 5 members. In the table, select the amount of provincial and national taxes collected from the household. Make only two selections, one in each column.

Provincial_|_National
__________|____✓____€0
____✓____|__________€4,500
__________|__________€5,500
_____x____|__________€6,500
__________|__________€9,000
| €11,000


_____


Shouldn't it be 10% * €70,000 = €7,000?
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"10% of all household income that exceeds the product of 5,000 euros (€) times the number of members of the household."

it should be 10% of (70000-25000) i.e. whatever exceeds 5000*5. would be 4500 correctly so.
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Households in City X pay provincial and national taxes on a portion of 15 Jan 2021, 03:39
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Households in City X pay provincial and national taxes on a portion of the household income. The provincial tax is 10% of all household income that exceeds the product of 5,000 euros (€) times the number of members of the household. If household income does not exceed this product, no provincial tax is collected. The national tax is 20% of all income that exceeds the product of €15,000 times the number of members of the household. If the household income does not exceed this product, no national tax is collected.

A household has a total income of €70,000 and 5 members. In the table, select the amount of provincial and national taxes collected from the household. Make only two selections, one in each column.

ProvincialNational
€0
€4,500
€5,500
€6,500
€9,000
€11,000

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Provincial: €4,500
National: €0

Shouldn't it be 10% * €70,000 = €7,000?
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Total Income = 70000
Provincial Tax on amount = 10% of (70000- 5000*5) = 10% of 45000 = 4500
National Tax (Levied on no. of members*15000), so tax is levied if income is greater that 15000 * 5 = 75000
But, income is 70000 only. So, National tax = 0

PT = 4500
NT = 0
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Households in City X pay provincial and national taxes on a portion of 17 Jan 2021, 00:55
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A household has a total income of €70,000 and 5 members

The national tax is applicable if the total income exceeds €15,000*5 = €75,000
But, total income = €70,000
So, national tax = 0

Provincial tax is applicable on:
(Total income - €5,000*5)
= €70,000 - €25,000
= €45,000

Provincial tax = 10 % of €45,000
Provincial tax = €4,500
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Households in City X pay provincial and national taxes on a portion of 21 Jan 2021, 03:39
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This is great. I didn't realize the provincial taxation only applies to the amount that EXCEEDS 25,000. Thanks so much jhavyom, sudeshpatodiya, and shameekv1989
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Households in City X pay provincial and national taxes on a portion of 03 Feb 2026, 03:20
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