Consider the following hypothetical tax schedule, expressed in nominal terms, for the tax year 2020-21. Family Marginal

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Consider the following hypothetical tax schedule, expressed in nominal terms, for the tax year 2020-21. Family Marginal

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Consider The Following Hypothetical Tax Schedule Expressed In Nominal Terms For The Tax Year 2020 21 Family Marginal 1
Consider The Following Hypothetical Tax Schedule Expressed In Nominal Terms For The Tax Year 2020 21 Family Marginal 1 (103.59 KiB) Viewed 16 times
Consider the following hypothetical tax schedule, expressed in nominal terms, for the tax year 2020-21. Family Marginal income tax rate <=$20 000 0 $20 001-$30000 $30 15 001-$50 000 >$50 000 20 Assuming the CPI is 100 in 2020-21 and 120 in 2021-22, but the government does not adjust the tax schedule for tax year 2021-22, what is the average tax rate in 2021-22 for a household earning $48,000 in 2020-21, assuming their nominal income goes up with inflation? O 15% 10% O 8.6% 7.7% 9.6% 10
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