PERSONAL INCOME TAX RATE （MONTHLY) （_VALID FROM SEPT. 1, 2011_) bracket grading tax ra

A.the income tax

B.the council tax

C.the capital receipts

D.personal contribution

A.cap

B.gate

C.indifference

D.gap

A.thread

B.threshold

C.hold

D.door

A.whole

B.sound

C.safe

D.part

(c) Prepare brief notes for the proposed meeting with Charles and Jane. Clearly identify the further information

you would need in order to advise them more fully and suggest appropriate personal financial planning

protection products, in respect of both death and serious illness. (9 marks)

You should assume that the income tax rates and allowances for the tax year 2005/06 and the corporation tax

rates for the financial year 2005 apply throughout this question.

(ii) Write a letter to Donald advising him on the most tax efficient manner in which he can relieve the loss

incurred in the year to 31 March 2007. Your letter should briefly outline the types of loss relief available

and explain their relative merits in Donald’s situation. Assume that Donald will have no source of income

other than the business in the year of assessment 2006/07 and that any income he earned on a parttime

basis while at university was always less than his annual personal allowance. (9 marks)

Assume that the corporation tax rates and allowances for the financial year 2004 and the income tax rates

and allowances for 2004/05 apply throughout this question.

Relevant retail price index figures are:

January 1998 159·5

April 1998 162·6

RMB per month. The tax rates are divided into 7 brackets. The lowest rate is 3% for income between 3,501 and 5,000, while the highest rate is 45% for income over 80,000. Therefore, the higher our income is, the more tax we should pay. Tax, which can be used in public services such as education, road construction, public health and so on, is very important to our country. As we all know, tax makes up a great part of our country’s revenue, and the development of our country depends on it. From what has been discussed above, we can see that it is everyone’s legal duty to pay tax because taxes contribute to the country and create benefits for everyone. Those who try to evade taxation are sure to be punished. In short, paying tax is our responsibility to society.Decide if each of the following statements is TRUE (T) or FALSE (F).

1. The purpose of the passage is to help people know the tips how to pay less tax.()

2. According to the chart, if a person’s monthly is 3600 yuan, he doesn’t need to pay tax.()

3. How much income tax a person pays each month depends on how much his/her income is.()

4. The underlined word “evade” in the last paragraph means increase.()

5. Personal income taxes are included in a government’s revenue.()

A.Taxes are much too high.

B.We pay more taxes than we may realize.

C.Inheritance taxes and real estate taxes are unfair.

D.Some taxes are hidden.