lito: Calculate the low income tax offset. This is deducted from...

In thmcmahon/taxFunctions: Income tax functions

Description

Calculate the low income tax offset. This is deducted from non-refundable tax offset that reduces individuals' tax owed.

Usage

lito(income, value = 445, taper_start = 37000, taper_rate = 0.015,
  second_taper_start = NA, second_taper_rate = NA)

Arguments

income	Numeric. Gross income.
value	Numeric. The full value of the offset.
taper_start	Numeric. Income level from which to start tapering.
taper_rate	Numeric. Rate at which the offset tapers
second_taper_start	Numeric. Income level at which the second taper starts
second_taper_rate	Numeric. Rate at which the second taper starts.

Examples

lito(18000)

thmcmahon/taxFunctions documentation built on May 31, 2019, 10:45 a.m.