IncomeTax: The Income Tax Class

In ianksalter/uktax: Functions for Calculating UK Tax and Benefits for Economic Analysis

Description

This class describes the tax payable by an individual.. Income up to the personal allowance is tax free. Then income is taxed at the rate in the rate vector until the corresponding threshold. Note this class makes a number of simplifications including ignoring Scotland for sake of simplicity

Usage

IncomeTax

Arguments

income

The initial income of the person.

Format

An object of class R6ClassGenerator of length 24.

Fields

personalAllowance

class used to calculate tax free personal alowance based upon income.

threshold

The vector of tax thresholds, must be in ascending order.

rate

The vector of tax rates, must be same size as thresholds.

Examples

Income Tax
The Amount method

This method determines how much income tax a single person pays depending upon their income.city
amount()

ianksalter/uktax documentation built on March 19, 2020, 5:45 a.m.