Answering Questions (Leaving Cert Mathematics): Flashcards

$20\%$

$40\%$

Up to standard rate cut-off point

Amount above standard rate cut-off point

Sum tax at $20\%$ + tax at $40\%$

Gross income tax - tax credits

Reduce gross income tax to get net income tax

Income threshold where tax rate changes from $20\%$ to $40\%$