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Learning Activity: Programming exercise
In this learning activity, you are asked to write a simple income tax calculator in Python. Australia adopts a progressive income tax regime; the individual 2020 - 21 financial year tax rates are shown in the table below:
Taxable income
Tax on this income
0 - $18,200
Nil
$18,201 - $45,000
19 cents for each $1 over $18,200
$45,001 - $120,000
$5,092 plus 32.5 cents for each $1 over $45,000
$120,001 - $180,000
$29,467 plus 37 cents for each $1 over $120,000
$180,001 and over
$51,667 plus 45 cents for each $1 over $180,000
For example, for someone whose taxable income is $100,000, they are liable to pay:5092+32.5×(100000-45000)=22,967
Now write a Python program that asks user to input their taxable income and then output the tax payable.Sample input/output:>>> Enter your taxable income:>>> 100000>>> Tax payable on this income is: 22967
Attachment:- Income tax calculator.rar
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