ࡱ>  RbjbjEEFA8*{&lBXnnn%%%%%%%$'*%Q%nn45&###Fnn%#%###nPKU#%K&0{&# +< +# +##%%#{& + : Chapter 5 Salaries Tax: Computation Topic List 1. Salaries tax rates 2. Format of salaries tax computation 3. Separate assessment and joint assessment 3.1 Introduction 3.2 Basic allowance for separate assessment for married couples 3.3 Child allowance for separate assessment for married couples 3.4 Dependent parent allowance for separate assessment for married couples 3.5 Charitable donation for separate assessment for married couples 3.6 Joint assessment 3.7 Time limit for election 3.8 Income for joint assessment 3.9 Payment of salaries tax for joint assessment 3.10 When joint assessment is beneficial LEARNING OBJECTIVES 1. Understand the format of the salaries tax computation. 2. Understand how to prepare salaries tax computation. 3. Understand how to compute salaries tax payable.  EMBED OrgPlusWOPX.4  1. Salaries Tax Rates 1.1Salaries tax chargeSalaries tax is charged: (a) at the progressive rates on the net chargeable income (azeQo`[M) of a person (s 13(1)); or (b) at the standard rate on the whole of the net assessable income (aUzeQo`[M) as reduced by concessionary deductions (s 13(2)(a)), whichever is lower. 1.2 There were reductions to the tax payable for some years of assessment, see table below: Year of assessmentPercentage of reductionTax involvedMaximum deduction2006/0750%Salaries tax and personal assessment$15,0002007/0875%Salaries tax, property tax, profits tax and personal assessment$25,0002008/09100%Salaries tax and personal assessment$8,0002009/1075%Salaries tax and personal assessment$6,0002010/1175%Salaries tax and personal assessment$6,0002011/1275%Salaries tax, profits tax and personal assessment$12,000 1.3 Take year of assessment of 2010/11 as an example, if husband and wife are separately assessed under salaries tax, they will be entitled to a maximum tax rebate of $6,000 each (i.e. $12,000 in total). If they elect for joint assessment, they are entitled to a total maximum tax rebate of $6,000 only. 1.4 Progressive tax rates Year of assessments2004/05 and 2005/062006/072007/082008/09 onwardFirst $30,0002%2%First $35,0002%First $40,0002%Next $30,0008%7%Next $35,0007%Next $40,0007%Next $30,00014%13%Next $35,00012%Next $40,00012%Remainder20%19%Remainder17%Remainder17% 1.5 Standard tax rate 2004/05 to 2007/082008/09 onwardStandard rate16%15% 2. Format of Salaries Tax Computation 2.1 There is no fixed format for a salaries tax computation, and students are free to put the taxable items in whatever order they like. The format suggested in this chapter is for the purpose of arriving at the correct rental value. 2.2 The following format is a typical format of a salaries tax computation for an individual taxpayer for the year of assessment 2011/12. Mr Chan Salaries Tax Computation Year of Assessment 2011/12 $ $ Salaries A Bonus B Taxable allowances C Less: Allowable outgoings and expenses D Depreciation allowances E F G Add: Rental value (G 10%) H Less: Rent suffered I J K Add: Income from other employment (e.g. part-time job) L Lump sum received at the termination of employment M Gain on share option N O P Less: Loss bought forward and set-off (if any) Q Self-education expenses R Net assessable income before concessionary deductions S Less: Concessionary deductions Charitable donation (limited to 35% of P) T Elderly residential care expenses U Home loan interest V Contributions to recognized retirement schemes W X Y Less: Basic allowance/Married persons allowance Z Child allowance AA Dependent parent allowance and/or other allowances BB CC Net chargeable income DD Salaries tax thereon: First $40,000 @ 2% 800 Next $40,000 @ 7% 2,800 Next $40,000 @ 12% 4,800 Remainder @ 17% a b The salaries tax is calculated once more by the following formula under Section 13(2): Net assessable income before deducting personal allowance 15% i.e. Y 15% c The lower of (b) or (c) is taken as the salaries tax liability.  2.3Example 1Mr Wu was a marketing manager. He received an annual salary totaling $630,000 and was provided with a rent-free flat by his employer during the year ended 31 March 2012. He paid an annual membership fee of $1,200 to the Institute of Marketing in December 2011 and donated cash of $1,000 to the Community Chest in March 2012. He contributed $31,500 to an MPF scheme. His wife died three years ago. He has to maintain a son aged 15 and his two parents, both of whom are aged over 60. His parents resided with him throughout the year ended 31 March 2012. The salaries tax liability of Mr Wu for the year of assessment 2011/12 is: Mr Wu Salaries tax computation Year of assessment 2011/12 Basis period: 1 April 2011 to 31 March 2012 $ $ Income from employment 630,000 Less: Allowable expenses 1,200 628,800 Add: Rental value ($628,800 10%) 62,880 Net assessable income 691,680 Less: Approved charitable donation 1,000 Contributions to recognized retirement scheme 12,000 13,000 Net assessable income after concessionary deductions 678,680 Less: Basic allowance 108,000 Dependent parent allowance 72,000 Additional dependent parent allowance 72,000 Child allowance 60,000 Single parent allowance 108,000 (420,000) Net chargeable income 258,680 Net chargeable income at progressive rates: 1st $120,000 8,400 Balance of $138,680 at 17% 23,575 31,975 Net assessable income after concessionary deductions at standard rate: $678,680 15% 101,802 Lower of standard rate and progressive rate 31,975 Less: Tax waived (12,000) Salaries tax payable 19,975  2.4Exercise 1Fly-up Limited is a company incorporated in HK and carries on business in HK. In March 2011, the company set up a branch in Guangzhou to promote business there. Mr Wong who is a HK resident is the sales controller of the company and he was seconded to Guangzhou to head the branch there. He stationed in Guangzhou and came back to HK twice a month. During his stay in HK, he went to the Head Office and reported to the managing director about the progress of business in Guangzhou branch, and visited his wife and children. During the year ended 31 March 2012, he stayed in HK for 50 days, and received the following remuneration: $ Salaries 1,000,000 Holiday journey to France with the family 62,000 As he stayed in Mainland China for over 183 days, he paid Chinese individual income tax of HK$250,000 on his income of HK$600,000. Mr Wong contributes 5% of his salaries for his provident fund. Mr Wongs wife is housewife and has no employment income. His elder son is 20 years old studying in a university in London, and his younger daughter is 15 years old studying Form 3 in a secondary school in HK. Required: Compute Mr Wongs salaries tax liability for the year of assessment 2011/12. Solution:  2.5Exercise 2The details are the same as Exercise 1 except that Mr Wong is an employee of an overseas, and he stayed in HK for 50 days. He performed services both inside and outside HK. Mr Wong remains a HK resident. Required: Compute Mr Wongs salaries tax liability for the year of assessment 2011/12. Solution:  2.6Exercise 3Mr Lee is a resident of Singapore. Starting from 1 April 2011, he was employed by CB Limited as general manager. CB Limited is a company incorporated and is carrying on business in Hong Kong. The employment contract was negotiated and signed in Singapore between Mr Lee and a director of the company. Mr Lees remuneration was paid to him in Hong Kong. During the year ended 31 March 2012, Mr Lee received the following income: (1) Salaries: $1,440,000 (2) Bonus: $90,000 (3) CB Limited paid $50,000 to purchase air tickets for Mr Lee and his family to relocate them from Singapore to Hong Kong. During the year, Mr Lee, together with his wife, went to Japan for ten days during the vacation leave and he received a holiday passage of $25,000 from CB Limited. He spent the whole sum for joining a holiday tour and he submitted the receipts rent of $24,000 to him. (4) During the period from 1 April 2011 to 30 April 2011, Mr Lee lived in a hotel suite with one bedroom and the bill of $18,000 was issued for the account of CB Limited. Starting from 1 May 2011, he leased a flat at a monthly rent of $25,000 and CB Limited reimbursed monthly rent of $24,000 to him. (5) CB Limited paid electricity, gas and water bills on behalf of Mr Lee in the total sum of $32,000. (6) For business purposes, Mr Lee joined a recreation club for an entrance fee of $60,000 with an annual membership fee of $48,000. He received a 50% reimbursement from CB Limited for both the entrance fee and annual membership fee. (7) CB Limited provided Mr Lee with a company car for personal use. The cost of the car was $300,000 and its second hand value as at 31 March 2012 was $210,000. Mr Lee received monthly petrol allowance of $1,500 starting from 1 April 2011. (8) On 1 September 2011, he was granted the right to subscribe for 100,000 shares in CB Holding Limited, the parent company of CB Limited, at a price of $3 each. On 1 February 2012, he exercised the option. On 15 March 2012, he sold 50,000 shares. The market values of the shares of CB Holding Limited at the above relevant dates were as follows: Date Market value per share 1 September 2011 $5 1 February 2012 $8 15 March 2012 12 During the year ended 31 March 2012, Mr Lee paid for the following expenses: (1) Membership fee to a professional management association in Singapore: $2,500 (2) Tuition fees for a Higher Diploma course in China Business organized by a university in Hong Kong: $10,000 (3) Cash donations to approved charitable institutions: $200,000 (4) Mandatory contributions to an MPF scheme: $12,000 Mr Lee is married with two children. Mrs Lee is a housewife and she spent half of the year ended 31 March 2012 in Singapore. Their children are aged 27 and 22 and they are studying full-time in Singapore. Required: (a) Explain to Mr Lee whether he has a Hong Kong employment. (5 marks) (b) Compute Mr Lees chargeable share option gain for the year of assessment 2011/12. (2 marks) (c) Compute Mr Lees salaries tax liability for the year of assessment 2011/12. (Show all your workings.) (11 marks) (Total: 18 marks) Solution:  3. Separate Assessment and Joint Assessment (+YfZTuOUz) 3.1 Introduction 3.1.1 Under salaries tax, each taxpayer is assessed on his or her own income, no matter whether they are single or married. For married couples, unless they elect for joint assessment under salaries tax, each of them will receive his or her own salaries tax assessment. 3.2 Basic allowance for separate assessment for married couples 3.2.1 When married couple does not elect for joint assessment, each of them is entitled to basic single allowance (not married persons allowance). 3.3 Child allowance for separate assessment for married couples 3.3.1 If any one of them wishes to claim child allowance, the child allowance for all the children is to be claimed by one of them in block. The child allowance cannot be split. 3.4 Dependent parent allowance for separate assessment for married couples 3.4.1 However, dependent parent allowance and dependent grandparent allowance may be claimed by either one of them on individual parent or individual grandparent basis. For example, the husband may claim dependent parent allowance for his father while the wife may claim dependent parent allowance for her mother-in-law. 3.5 Charitable donation for separate assessment for married couples 3.5.1 If the charitable donation exceeds the deduction limit of 25% (for 2003/04 to 2007/08) or 35% (from 2008/09 onward), the unrelieved charitable donation may be transferred to the spouse for deduction from his or her assessable income. 3.6 Joint assessment 3.6.1 A joint assessment is only issued to a couple if both the husband and the wife signify in their individual salaries tax return that they apply for joint assessment. If there is no indication for joint assessment, separate salaries tax assessment is issued to the husband and the wife. 3.6.2Election for joint assessmentAn election for joint assessment may be made: (a) jointly by the husband and wife (b) in a specified form (s 11(1)) (c) where both the husband and wife have assessable income, if either (i) the net assessable income of one spouse is less than his or her concessionary deductions and personal allowance; or (ii) the total tax payable by the husband and wife under separate taxation is greater than that under joint assessment (s 10(2)). 3.7 Time limit for election 3.7.1 The time limit for election is: (a) one year after the year of assessment in question, or (b) one month after the date on which the salaries tax assessment has become final and conclusive, Whichever is later (s 70). 3.7.2 The CIR may grant an extension in time for lodging the election in circumstances which he considers to be reasonable (s 11(2)). 3.8 Income for joint assessment 3.8.1 All the assessable income of a couple is grouped under one salaries tax assessment, and married persons allowance (not basic single allowance) is granted. All the other concessionary deductions and personal allowances are grouped together and they are deductible from their joint assessable income. 3.9 Payment of salaries tax for joint assessment 3.9.1 For joint assessment, all the incomes of husband and wife from employment, office and pension are grouped together, and all the deductions and allowances are subtracted from the total income. After that, the allowances available are also deducted from such net amount, and salaries tax is calculated on the joint net chargeable income. 3.9.2 The following spouse is liable to pay the tax on the joint assessment: (a) in the case of an election under which either spouses net assessable income is less than his/her personal allowance, the spouse who would have been chargeable to salaries tax in the absence of such an election. (b) In the case of an election under which the tax under joint assessment is less than the total tax under separate taxation, the spouse nominated by the husband and wife (s 10(3)). 3.10 When joint assessment is beneficial 3.10.1 Generally, separate assessment is beneficial if both the husband and the wife are chargeable to salaries tax, and each of their income exceeds the limit of basic allowance. On the other hand, if one of the spouses is not chargeable with salaries tax or the income of one spouse is below the basic personal allowance, it is beneficial for the couple to elect for joint assessment. 3.10.2Example 2Mr Kam works for a HK company and received a monthly salary of $40,000 for the year ended 31 March 2012. His wife works as a part-time accountant for a small firm and received a monthly salary of $8,000 for the year ended 31 March 2012. Mrs Kam paid charitable donation of $39,600 to her church for the year ended 31 March 2012. Mr and Mrs Kam have two children at the age of 10 and 15. Mr Kams mother, age 65, lives in a registered nursing home in HK, and he paid $6,000 each month to support her nursing home fee. Required: Compute Mr and Mrs Kams salaries tax liability for the year of assessment 2011/12. Solution: Mr and Mrs Kam Salaries Tax Computation Year of Assessment 2011/12 Mr Kam Mrs Kam $ $ Salary 480,000 96,000 Less: Charitable donation * (6,000) (33,600) Elderly residential care expenses (60,000) 0 Net assessable income after concessionary deductions 414,000 62,400 476,400 Less: Married persons allowance 216,000 Child allowance 120,000 (336,000) Net chargeable income 140,400 Salaries tax thereon 40,000 @ 2% 800 40,000 @ 7% 2,800 40,000 @ 12% 4,800 20,400 @ 17% 3,468 11,868 Net assessable income at standard rate: 476,400 15% 71,460 Lower of standard rate and progressive rates 11,868 Less: Tax rebate (75%, limited to $12,000) (8,901) Salaries tax payable 2,967 (Salaries tax payable by the nominated spouse or the spouse who would have been liable to pay salaries tax under separate taxation.) * The maximum charitable donation that can be deducted from Mrs Kams income is 35% of $96,000, and only $33,600 is deductible. The unrelieved charitable donation of $6,000 may be deductible from Mr Kams assessable income. The deduction is also subject to the maximum amount of 35% on Mr Kams income. 3.10.3Exercise 4Mr Chan is a news reporter employed by Hong Kong Daily News. During the year of assessment 2011/12, he has the following income/benefits. 1. Monthly salary of $40,000 2. Bonus $40,000 3. A holiday passage allowance of $50,000, 2/5 of which was used to purchase holiday warrants for himself and his wife whilst the balance was retained by him 4. Free education benefits for his only son, aged 12, the tuition fee for the year was $150,000. Mr Chan is required to incur all local traveling expenses in the performance of his duties. The total traveling expenses incurred during the year amounted $20,000. During the year Mr Chan donated $88,000 to the Community Chest and contributed 5% of his monthly salary to the companys retirement scheme that is a MPF exempted scheme. 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"Pkd:$$If0p#  064 apyt $If $$Ifa$$0WD^`0a$"""""#"$"."[kd;$IfK$L$Fi6    4 a $$Ifa$K$ $$Ifa$K$."/"Y"Z"a"b"1[kd<$IfK$L$Fi6    4 a $$Ifa$K$ $$Ifa$K$[kd<$IfK$L$Fi6    4 ab"c"""&#'###$$R$S$T$^$x$a$gd vkd<$$If0p# 064 ayt $$Ifa$ #$$$-$P$S$T$^$v$w$y$|$}$$$Z%d%t%u%%%%%%%%%%%%%&& &!&)&&&&&' 'H'I'O'P'Q'q'''''''*(+(<(=(P)Q)k)þõhcjnH o(tH hlnH o(tH hnH tH hnH o(tH ho( h^Xo( ho( hE:o( hlo(h EnH o(tH h;nH o(tH hro(h E h Eo(h E5\o(=^$_$`$a$b$c$d$e$f$g$h$i$j$k$l$m$n$o$p$q$r$s$t$u$v$w$ $$Ifa$w$x$y$z${$|$$$$If $$Ifa$$a$gdl[kd=$$If^# 064 a$$$Y%Z%d%e%%neeeeee $$Ifa$kdV>$$If0p#  064 apyt %%%%%%%%%%%%%%~uuuuuuuuuuu $$Ifa$ $VD,^a$vkdY?$$If0p# 064 ayt %%%%%%%%%%%%%%%%%%%[kd'@$$If^# 064 a $$Ifa$%%%%%%M'N''Jkd@$$If0p#  064 apyt $IfgdLme $$Ifa$gdLme$0WD^`0a$'''M)z**+,.....3.4.E.UkdA$IfK$L$0   t644 layt v $$Ifa$gd vK$$M$IfWD^`Ma$gdk)l)))**y*z*}*~*****++;,[,,,,,,,M-m-----...4.C.D.I.W.X.].i.j.p.s......//M/V/\/f///˺˺ú˱ݱݺݺݠhnHnH tH hnHnH o(tH h~AnH o(tH hS*jnH tH hS*jnH o(tH hLnH o(tH h/,vnH tH h/,vnH o(tH hnH o(tH h.4nH o(tH hcjnH o(tH hlnH o(tH hcjnH tH 8E.H.I.Y.\.].k.7UkdB$IfK$L$0   t644 layt v $$Ifa$gd vK$UkdB$IfK$L$0   t644 layt v $$Ifa$gd vK$k.n.o.p../}////u_____$M$IfWD^`Ma$gd$$If^a$gdnH$$IfVD^`a$gdS*jUkdB$IfK$L$0   t644 layt v $$Ifa$gd vK$ /////C0c0s0t000000 1 111'1(1F1i1j1k1x1y111111111111111122l2r2t2v2uh`vhZnH o(tH hHPnH o(tH h`vnH o(tH h vh`v5nH o(tH hnH o(tH ho(hnHh9mnH o(tH h.4nH tH h9mh9m5nH o(tH h9m5nH o(tH h~AnH o(tH h9mnH tH hnHnH o(tH h9mnH o(tH ./00001u111$ h M$IfWD^`Ma$gdZ$ h M$IfWD^`Ma$gd $ h M$IfWD^`Ma$gd.4$M$IfWD^`Ma$gd$$If^a$gd9m112222222 2"2$2&2znnnnnnnnnn $$Ifa$gd v$0WD^`0a$vkdWC$$If0p# 064 ayt &2(2*2,2.20222426282:2<2>2@2B2D2F2H2J2L2N2P2R2T2V2X2Z2\2^2 $$Ifa$gd v^2`2b2d2f2h2j2l2n2p2r2t2v2x2z $VD,^a$gd`vjkd%D$$Ifp# t0 644 la<yt $$Ifa$gd v v2x2z2|22222222333 333444444Y5Z5i5l5555]6`666666 77u7~777/808183858!9$96979ŻŤśh^Xh Eo(h E5\o(h^X5\o(h E h Eo( h^Xo(hRh E5o(hRhR5hRhR5o( hRo(h E5CJPJ\o(h E5CJ\h E5CJ\o(h^X5CJ\o(hh`vnH o(tH 3x222334444h5i555\6]66677/808 9!9$/WD^`/a$$/WD^`/a$gdR$0WD^`0a$$0WD^`0a$!96979Z:[:a:: $Ifgd v $$Ifa$gd v$0WD^`0a$$/WD^`/a$7989:9<9[:`:a:~::::::::::;/;>;?;C;R;X;\;f;j;s;;;;;;;;;< <<)<4<5<6<7<:<;<S<T<Y<Z<}<~<<<<<<<====𾷯hW hWo(hWhW5o(hWhW5 h^X5o( hwo(h,Arh,Aro(hkeh,Ar5hkeh,Ar5o(hsh,Ar5o(h,Ar hHUo( h,Aro( h Eo( h^Xo(=::::::;;nbbLLL$b$IfWD^`ba$gd,Ar $$Ifa$gd vkdD$$If0p#  064 apytZ};;;5<6<7<S<T<z<qiWEE$???@@ApBqBBBD$0VD"WD^`0a$gdfT<$0WD^`0a$$/WD^`/a$$?>F>G> ??%?>???D?o?V@^@f@p@@@@@@@@AAAAAApBqBuBvBBBBBeCwC{CCCCCC˺в­˭С h-o(h-5\o(hfT<h Eo(hfT< hfT<o(h=h Eo(h=5\o(h E h=o( h Eo(h E5\o( h E5\h^X5\o(hWhW5o(hW h^Xo( hWo(:CCDD%D&D/DyDDDDDE'EIEZEzE|E}EEE:FCFDFZF[FsFFFFFF0G7G8G9G=GGGGGGGGGGGGGHH H HHH)H*H,H.HNHPH[H^H`HbHmHrHtHvHHH h\o( hNDo( h2o( hz+o( hoto(h]h E5\o(h E h#<o(h0h Eo( h0o( h-o(h E5\o( h Eo(FDD&D0D1D2DDD|E}EPkd}F$$If0p#  064 apytZ}$If $$Ifa$$0WD^`0a$ }E9F:FDFFFFFFFFFFFsckdG$IfK$L$F^:^nn6    4 aytZ} $$Ifa$K$ $$Ifa$K$ $$Ifa$ $$Ifa$ FFFFFG GGckdG$IfK$L$F^:^nn6    4 aytZ} $$Ifa$K$ $$Ifa$K$GG0G8GAG $$Ifa$K$ $$Ifa$K$ckdxH$IfK$L$F^:^nn6    4 aytZ}AGBGdGmGoG $$Ifa$K$$($IfVD^(a$K$ckdH$IfK$L$F^:^nn6    4 aytZ}oGpGGGG $$Ifa$gdz+K$ $$Ifa$K$ckdpI$IfK$L$F^:^nn6    4 aytZ}GGGGG $$Ifa$K$ $$Ifa$K$ckdI$IfK$L$F^:^nn6    4 aytZ}GGGGG $$Ifa$K$ $$Ifa$K$ckdJ$IfK$L$F^:^nn6    4 aytZ}GGGGG $$Ifa$K$ $$Ifa$K$ckdK$IfK$L$F^:^nn6    4 aytZ}GGGHH $$Ifa$K$$($IfVD^(a$K$ckdK$IfK$L$F^:^nn6    4 aytZ}HH(H)H1H $$Ifa$K$ $$Ifa$K$ckdL$IfK$L$F^:^nn6    4 aytZ}1H2H3H4H5H $$Ifa$K$ $$Ifa$K$ckdL$IfK$L$F^:^nn6    4 aytZ}5H6HKHLHMH $$Ifa$K$ $$Ifa$K$ckd6M$IfK$L$F^:^nn6    4 aytZ}MHNHZH[H_H $$Ifa$K$ $$Ifa$K$ckdM$IfK$L$F^:^nn6    4 aytZ}_H`HlHmHsH $$Ifa$K$ $$Ifa$K$ckdLFLLLMM!M*MWMXM`MiMMMNN8N9NQNRNrNNNNNNNN O4O5OfOgOOOOO9;EjhT(Uh]nH o(tH hKnH o(tH hO4nH o(tH h E5\o( h Eo(Uh[J3h[J35nH o(tH h[J35nH o(tH h1nH o(tH h[J3nH tH h[J3nH o(tH h EnH o(tH 7LLLMMKNLNNNNNcOO9$ P$If`a$gd[J3$ P$IfVDWD,^`a$gd[J3 Advise if Mr and Mrs Chan should elect joint assessment. Solution:      Advanced Taxation  PAGE \* MERGEFORMAT 97 9:;EFGHIJKLMNO~uuuuuuuuuuu $$Ifa$ $VD,^a$vkdU$$If0p# 064 aytZ} OPQRSTUVWXYZ[\]^_`abcdefghijk $$Ifa$klmnopqrstuvwxyz{|}~ $$Ifa$ $$Ifa$Ĉň|$ 9r +p#a$gd`^F  9r p#gdkb $VD,^a$[kdV$$If^# 064 a Ĉňƈ݈ވ h Eo(hhmHnHsH uh`^Fjh`^FUhyh`^FnH o(tH hyo(jhT(UhT( $VD,^a$  9r p#gdkbC0P[1h2P:p`^F. A!"#$%S Dp[{$$If!vh5##v#:V  t0      65#ytG Dd AdeJ  C A? "2WGSC`!WGSC p'81X/xڵWkA~3$6HJ[ɡz"RA ^!bI$R<xăHo BRֶ6;v ݷoy3v^$8@?Ą3.%ܻFx%Dz bH/MIwD  χ>wXz6OHwIf; P'*;%p<i:chagg\왆fSb9> o |5Ü]6) Lď5nRA]ENyM?~`Cݘ|7~\21+Šx,k7gwp!z&$}1$xK)B߈W JʕR0]Z.*v~ln/XOLSN?B)-N L?3Y3"R8R#!H|U <{.z]ٙѫaV"܊u6YZU-hkgMYU-neI?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~ #Root Entry  F0VUData :WWordDocument EObjectPool P$FU0VU_1290802207@%1hP$FUP$FUOle CompObjZObjInfo  @%1h OrgPlus.4 OrgPlus.4OrgPlusWOPX.49qOh+'0 $0 P \ h t$Chapter 7 Salaries Tax: ComputationCONTENTSZ1Table  +SummaryInformation( DocumentSummaryInformation8 VUOCF (c) Copyright 1992 Banner Blue Software Incorporated. All rights reserved. OPX ɮ׮榡O㦳ӷ~KΩҦvݩ Banner BlueC Banner Blue ݭnƥѭPN wI|~ϥΦ榡CIdzovO OHkAP Banner Blue N|Xk߰lsC ) Copyright 1992 Banner Blue Software Incorporated. All rights reserved. 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