Last year, Luke’s taxable income was `$87\ 000` and the tax payable on this income was `$19\ 822`. This year, Luke’s taxable income has increased by `$16\ 800`.
- Use the table to calculate the tax payable by Luke this year. (2 marks)
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- How much extra money will Luke have this year, after paying tax, as a result of the increase in his taxable income? Ignore the Medicare levy. (2 marks)
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