AAFM Exam CWM_LEVEL_2 Topic 7 Question 62 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 62
Topic #: 7

[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

As a CWM you are required to calculate the tax liability of an individual whose taxable income is:

* $42000 in SGD and he is a Singapore citizen

* 35500 p.a (only employment)and he is a UK citizen

A 7100 and 5880 SGD

B 14200 and 3570 SGD

C 17750 and 2310 SGD

D 7100 and 2310 SGD

Show Suggested Answer

Suggested Answer: D

by Haydee at Jul 26, 2023, 06:47 AM

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Alayna

7 days ago

Alright, time to put my CWM skills to the test. Let's see, Singapore citizen, UK citizen... Gotta be careful not to mix up those tax rates. I'm feeling lucky, let's go with C!

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Noel

11 days ago

Hmm, this seems like a tricky one. I better double-check my tax calculations before selecting an answer. I don't want to end up with a huge tax bill like the national debt!

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Annice

14 days ago

I'm not sure, but I think the answer might be C) 17750 and 2310 SGD. Can someone explain their reasoning?

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Okay, let's see... Taxable income for a Singapore citizen is $42,000 SGD, and for a UK citizen it's £35,500 p.a. That's a lot of numbers to keep track of! I hope the right answer is an option that makes sense.

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Filiberto

19 days ago

I agree with Melita, because the tax liability for Singapore citizens is higher than for UK citizens.

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Melita

23 days ago

I think the answer is A) 7100 and 5880 SGD.

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AAFM Exam CWM_LEVEL_2 Topic 7 Question 62 Discussion

Contribute your Thoughts:

Alayna

Noel

Annice

Solange

Filiberto

Melita