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Income Tax Calculator


Figure out how much you should be setting aside every year for life insurance premiums or pension contributions with our Income Tax Calculator.

  • Income
  • Deductions
  • Allowances
Gross annual salary income
Gross annual rental income
Contributions to trade unions or professional bodies
Donations to approved charities
Annual provident fund or pension plan contributions
Annual private medical premiums
Life insurance
Insured amount
Annual premiums

Results

Gross annual salary income 70,000
Gross annual rental income 5,000
Expenses on Rented Property (20% of Gross Rental Income) 1,000
Contributions to trade unions or professional bodies
Donations to approved charities 300
Social Insurance contributions (8.3% of Salary Income)
General Healthcare System contributions (1.7% Jan-Feb and 2.65% Mar-Dec on Total Income) 1,275
Annual provident fund or pension plan contributions (up to 10% of Gross Salary Income) 2,000
Annual private medical premiums (up to 1.5% of Gross Salary Income) 1,050
Life Insurance Premiums (up to 7% of the insured sum) 3,000
First 19,500 at 0%
Next 8,500 at 20% 1,700
Next 8,300 at 25% 2,075
Next 23,700 at 30% 7,110
Remaining 1,839 at 35% 644
By saving additional 2,879 per year in a tax-efficient pension plan like the Ancoria Pension Plan you will manage to decrease your Income Tax by up to 956 per year!
Congratulations! You have taken 100% advantage of your tax allowance for the year.

If you want to save more, please have a look at our Ancoria Life Policy.
Your gross taxable income does not exceed the tax-free threshold of so you don’t need to worry about income tax!

If you still want to save for optimal financial planning, please have a look at our Ancoria Life Policy.

Find out more about the Ancoria Pension Plan