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AAFM Exam CWM_LEVEL_2 Topic 7 Question 62 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 62
Topic #: 7
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

As a CWM you are required to calculate the tax liability of an individual whose taxable income is:

* $42000 in SGD and he is a Singapore citizen

* 35500 p.a (only employment)and he is a UK citizen

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Suggested Answer: D

by Haydee at Jul 26, 2023, 06:47 AM

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Alayna
6 days ago
Alright, time to put my CWM skills to the test. Let's see, Singapore citizen, UK citizen... Gotta be careful not to mix up those tax rates. I'm feeling lucky, let's go with C!
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Noel
10 days ago
Hmm, this seems like a tricky one. I better double-check my tax calculations before selecting an answer. I don't want to end up with a huge tax bill like the national debt!
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Annice
13 days ago
I'm not sure, but I think the answer might be C) 17750 and 2310 SGD. Can someone explain their reasoning?
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Solange
14 days ago
Okay, let's see... Taxable income for a Singapore citizen is $42,000 SGD, and for a UK citizen it's £35,500 p.a. That's a lot of numbers to keep track of! I hope the right answer is an option that makes sense.
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Filiberto
18 days ago
I agree with Melita, because the tax liability for Singapore citizens is higher than for UK citizens.
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Melita
22 days ago
I think the answer is A) 7100 and 5880 SGD.
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