What function to use

[Guest]

Hi
Can you please advise how I would set up a tax calculator. The parameters are as below

Tax thresholds($) Tax rate(%
0 – 6,000
6001 – 21,600 1
21,601 – 58,000 3
58,001 – 70,000 4
70,001 plus 4
I want to be able to enter a gross annual salary and use a formula/function to calculate total tax (taking into account differing thresholds) Can this be done

Thanks

 

[Peo Sjoblom]

One way

http://www.mcgimpsey.com/excel/variablerate.html

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Regards,

Peo Sjoblom

Hi,
Can you please advise how I would set up a tax calculator. The parameters are as below:

Tax thresholds($) Tax rate(%)
0 - 6,000 0
6001 - 21,600 17
21,601 - 58,000 30
58,001 - 70,000 42
70,001 plus 47
I want to be able to enter a gross annual salary and use a

formula/function to calculate total tax (taking into account differing
thresholds) Can this be done?

 

[Guest]

Thank you for your assistance