Hi Bosko

(percentages don't look right for my problem) but as I say it works
It does seem a little illogical at first, but the formula is taking the
lowest rate of tax against ALL qualifying income, plus the marginal extra
tax due on the whole of each successive sum in each successive band as
appropriate.

22.05%,31.50%,32.98%,39.39%,43.40%,46.40%
0.2205,0.315 ,0.3298,0.3939,0.4340,0.464
so the incremental change for each band is as follows
0.2205,0.0945,0.0148,0.0641,0.0401,0.03

and these are the values that Domenic used in his formula.

Regards

Roger Govier


Bosko wrote:
Hi Domenic
Thanks for the help. I did several test income inputs in A2 and they
all equal results obtained by working out the Tax Payable manually. I
dont know how this works by looking at the the sumproduct formula
(percentages dont look right for my problem) but as I say it works
flawlessly. So thanks to you Domenic & J.E Mc Gimpsey. Cheers ...
Bosko