class Formulas::PAYG
Calculate basic salary in frequency salary = Income::Salary.new(52_000, Salary::ANNUAL)
Taxable income
Tax on this income
0 – $18,200
Nil
$18,201 – $45,000
19 cents for each $1 over $18,200
$45,001 – $120,000
$5,092 plus 32.5 cents for each $1 over $45,000
$120,001 – $180,000
$29,467 plus 37 cents for each $1 over $120,000
$180,001 and over
$51,667 plus 45 cents for each $1 over $180,000
Plus 2 percent medicare
salary.calculate(:monthly)
Constants
- TAX_RATES
Provide a way to calculate pay as you earn calculator
Public Class Methods
new(gross_pay:, frequency: Formulas::MONTHLY)
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Calls superclass method
# File lib/formulas/payg.rb, line 45 def initialize(gross_pay:, frequency: Formulas::MONTHLY) super(gross_pay, frequency, TAX_RATES) end
Public Instance Methods
tax(request_frequency: Formulas::WEEKLY)
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# File lib/formulas/payg.rb, line 49 def tax(request_frequency: Formulas::WEEKLY) calculate_tax(request_frequency) * 1.02 end