Form 67 Tax Rate Calculator





Formula

The formula to calculate the tax rate is:

\[ \text{Tax Rate} = \left( \frac{\text{Tax Paid}}{\text{Income}} \right) \times 100 \]

What is Form 67 Tax Rate?

The tax rate in Form 67 is calculated by dividing the total tax paid by the total income, and then multiplying by 100 to get a percentage. This gives you the effective tax rate paid on the income.

Example Calculation

Let's assume the following values:

Step 1: Calculate the tax rate:

\[ \text{Tax Rate} = \left( \frac{5000}{50000} \right) \times 100 = 0.1 \times 100 = 10\% \]

Therefore, the tax rate is 10%.