Shania earns $38996 per annum as a cocktail attendant and $7560 as a part-time singer. She has tax deductions of $3561 and, throughout the year, pays a total of $6963.30 in tax installments. Will she get a tax refund or have more tax payable at the end of the year?
Q. Shania earns $38996 per annum as a cocktail attendant and $7560 as a part-time singer. She has tax deductions of $3561 and, throughout the year, pays a total of $6963.30 in tax installments. Will she get a tax refund or have more tax payable at the end of the year?
Calculate Total Income: Calculate Shania's total annual income.Shania earns $38996 per annum as a cocktail attendant and $7560 as a part-time singer. To find her total annual income, we add these two amounts together.Total annual income = $38996+$7560Total annual income = $46556
Calculate Total Tax: Calculate the total tax Shania should pay before deductions.Shania has tax deductions of $3561. To find out the tax she should pay before deductions, we subtract the tax deductions from the total tax installments she has paid throughout the year.Tax before deductions = Total tax installments - Tax deductionsTax before deductions = $6963.30 - $3561Tax before deductions = $3402.30
Determine Tax Refund: Determine if Shania will get a tax refund or owe more tax. If the tax before deductions (calculated in Step 2) is less than the total tax installments she has paid, then she will get a refund. If it is more, she will owe more tax. Since the tax before deductions (3402.30)islessthanthetotaltaxinstallmentspaid(6963.30), Shania will get a tax refund.
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