Question

Australia is a great place to live, but it is also a land of high taxes. In 2002, individual citizens and residents of Australia paid the following income taxes:Taxable Income (in A%)Tax on This Income$0 -$6,000Nil.$6,001 -$20,00017ȼfor each $1 over $6,000$20,001 -$50,000$2,380 plus 30ȼfor each $1 over $20,000$50,001 -$60,000$11,380 plus 42ȼfor each $1 over $50,000Over $60,000$15,580 plus 47ȼfor each $1over $60,000In addition, a flat 1.5% Medicare Levy is charged to income. Write a program to calculate how much income tax a person will owe based on this information. The program should accept a total income figure from the user, and calculate the income tax, Medicare Levy, and total tax payable by the individual.Use total income $7000 and $70000 as examples, calculate the medicare levy, income tax, and total tax. Save the output in the word or pdf file.Requirements: 1.You must use an if-elseif-...-else-endconstruct.2.When the program is run the following should appear:This program calculates the taxes for Australia.Enter the person’s total income:(calling the input function)3.Output should be as follows:For an income of $#.## the taxes are:---------------------------------------Medicare Levy => $#.##Income Tax => $#.##---------------------------------------Total Tax => $#.##

Answer 1

TaxableIncome=input('Please provide taxable income in Australian Dollars:');

IncomeTax=0;

MedicareLevy=(TaxableIncome*0.015);

% TotalTax=IncomeTax + MedicareLevy; <== PUT THIS LINE AFTER THE INCOME TAX CALCULATION

if IncomeTax>0 && MedicareLevy>0

end

if TaxableIncome>=0

end

if TaxableIncome>=0 && TaxableIncome<=6000

elseif TaxableIncome>6000&& TaxableIncome<=20000

IncomeTax=0.17*(TaxableIncome-6000);

elseif TaxableIncome>20000 && TaxableIncome<=50000

IncomeTax=2380+0.30*(TaxableIncome-20000);

elseif TaxableIncome>50000 && TaxableIncome<=60000

IncomeTax=11380+0.42*(TaxableIncome-50000);

elseif TaxableIncome>60000

IncomeTax=15580+0.47*(TaxableIncome-60000);

end

TotalTax=IncomeTax + MedicareLevy;

fprintf('Income Tax is %f.\n', IncomeTax);

fprintf('Medicare Levy is %f.\n', MedicareLevy);

fprintf('Total Tax is %f.\n', TotalTax);