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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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Samuel
2 months ago
Ah, the joys of international tax law. This is like a puzzle with a million pieces, but I'm up for the challenge. Time to put on my calculator hat and crunch some numbers!
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Lashawna
18 days ago
C) 17750 and 2310 SGD
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Alaine
20 days ago
B) 14200 and 3570 SGD
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Maile
23 days ago
A) 7100 and 5880 SGD
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Carey
2 months ago
Ooh, this is a good one! I bet the answer is going to be a real head-scratcher. Maybe I should just close my eyes and pick randomly. Though that might land me in tax trouble, yikes!
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Gianna
1 months ago
C) 17750 and 2310 SGD
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Jose
2 months ago
B) 14200 and 3570 SGD
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Nana
2 months ago
A) 7100 and 5880 SGD
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Alayna
2 months 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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Dominque
13 days ago
Great choice, let's see if we got it right!
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Rebecka
19 days ago
I agree with you, let's go with option D
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Kindra
23 days ago
I believe the tax liability for the UK citizen is 2310 SGD
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Edmond
28 days ago
I think the tax liability for the Singapore citizen is 7100 SGD
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Dianne
1 months ago
Great choice, let's see if we got it right!
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Shawnda
1 months ago
I agree with you, let's go with option D
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Lemuel
2 months ago
I believe the tax liability for the UK citizen is 2310 SGD
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Ashanti
2 months ago
I think the tax liability for the Singapore citizen is 7100 SGD
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Noel
2 months 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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Shawnda
2 months ago
D) 7100 and 2310 SGD
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Jody
2 months ago
A) 7100 and 5880 SGD
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Annice
2 months 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
2 months 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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Pamella
1 months ago
C) 17750 and 2310 SGD
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Ira
1 months ago
I think it's option D for the Singapore citizen and option A for the UK citizen.
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Cherry
1 months ago
D) 7100 and 2310 SGD
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Geraldine
2 months ago
A) 7100 and 5880 SGD
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Filiberto
3 months ago
I agree with Melita, because the tax liability for Singapore citizens is higher than for UK citizens.
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Melita
3 months ago
I think the answer is A) 7100 and 5880 SGD.
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