pit_manual: Calculate personal income tax liability based on a tax table,...

In chrisaxelson/tax4sa:

Calculate personal income tax liability based on a tax table, rebate table and medical tax credits

Description

Function to calculate tax liability using custom tax tables

Usage

pit_manual(income, age, mtc, tax_table, rebate_table)

Arguments

income	taxable income for the tax year
age	age of each individual at the end of the tax year
mtc	medical tax credits available in the tax year
tax_table	a matrix representing any tax table, specifically the marginal tax rates and brackets
rebate_table	a matrix representing the rebates available for each age group

Details

pit_manual takes a vector of income and age and a matrix representation of the income tax brackets and the rebate available per age to calculate the tax liability. Allowing for custom tax tables make it easier to model policy changes. Since it is implemented in C++ it should be relatively quick and well-suited to large datasets.

Examples

# Calculate personal income tax using custom tax tables
pit_manual(income = 1000000, age = 53, mtc = 2550,
           tax-table = Tax_tables$PIT_brackets_2021, rebate_table = Tax_tables$PIT_rebates_2021)

chrisaxelson/tax4sa documentation built on July 17, 2025, 5:21 a.m.