individual tax rates

Individual tax rates are the percentages you pay on your taxable income, which vary based on your income level. The government uses a progressive system, meaning lower income brackets are taxed at lower rates, and higher income brackets at higher rates. Your total income is divided into these brackets, and each portion is taxed accordingly. For example, if you're in a higher bracket, only the income within that range is taxed at the higher rate, while income below that is taxed at lower rates. This ensures that taxes are proportionate to your ability to pay.