Question 13 Case Study - Little Pear Administration Pty Ltd (LPA) You are the payroll officer...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Question 13 Case Study - Little Pear Administration Pty Ltd (LPA) You are the payroll officer for Little Pear Administration Pty Ltd (LPA). Debra Foy is a company employee and has approached you with some questions about her salary packaging arrangement, and the possible impacts of a change in the legislation. Debra has emailed you the following link: Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019, Explanatory Memorandum Debra has directed your attention in the link to Chapter 7 Salary sacrifice integrity, on pages 71-74 of the textbook. In order to provide answers to Debra's questions, you're required to research the proposed changes, examine Debra's current employment arrangements and determine the impact of the proposed changes on her specific circumstances. Debra's employee card in LPA's payroll system shows the following information: Employee ID Tax file number First name Surname D.O.B. Residential address Postal address Email address Employment type Start date Residency status Tax free threshold Senior tax offset Other tax offset HELP repayment Deductions Pay rate 1349866 336684788 Debra Foy 21-Aug-1992 35 Ferrars Street, SOUTHBANK, VIC, 3006 35 Ferrars Street, SOUTHBANK, VIC, 3006 debra@littlepearjuice.com.au Full-time 25-Jun-2015 Australian Resident Claimed No No Yes $20 per fortnight (Union fees) $81,000 per annum (after allowing $15,000 salary sacrifice Salary Packaging $15,000 per annum - superannuation LPA's legal advisor has confirmed that Debra's contract will be deemed by the law as an effective salary sacrifice agreement and the amount of salary being sacrificed is $15,000. . Monarch Institute 2022. erved. FNSPAY505 Assignment Student Copy v2.5 Modified by: Compliance Modified on:25.11.2022 This is a video assessment activity Roles: This role play has two (2) roles: Scenario: You: The payroll officer for Little Pear Administration Pty Ltd Debra Foy (an employee of LPA) Meet with Debra and explain her salary packaging arrangement and the possible impacts that a change in the legislation will have on her situation. There is no script for this role play. During your meeting address the dot points below and answer any questions Debra may have regarding her situation. This task is designed to help assess your ability to: Meet with Debra and greet her appropriately and professionally Explain to Debra the two key changes if this bill becomes law Explain to Debra her current employment arrangement Assess the possible impacts of the new bill to Debra's current employment arrangements and explain the impacts to her Explain your workings to Debra and any calculations you have made Answer any questions that Debra may have on the legislation or how you arrived at the calculations. Confirm that Debra understands how these changes affect her. Question 13 Case Study - Little Pear Administration Pty Ltd (LPA) You are the payroll officer for Little Pear Administration Pty Ltd (LPA). Debra Foy is a company employee and has approached you with some questions about her salary packaging arrangement, and the possible impacts of a change in the legislation. Debra has emailed you the following link: Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019, Explanatory Memorandum Debra has directed your attention in the link to Chapter 7 Salary sacrifice integrity, on pages 71-74 of the textbook. In order to provide answers to Debra's questions, you're required to research the proposed changes, examine Debra's current employment arrangements and determine the impact of the proposed changes on her specific circumstances. Debra's employee card in LPA's payroll system shows the following information: Employee ID Tax file number First name Surname D.O.B. Residential address Postal address Email address Employment type Start date Residency status Tax free threshold Senior tax offset Other tax offset HELP repayment Deductions Pay rate 1349866 336684788 Debra Foy 21-Aug-1992 35 Ferrars Street, SOUTHBANK, VIC, 3006 35 Ferrars Street, SOUTHBANK, VIC, 3006 debra@littlepearjuice.com.au Full-time 25-Jun-2015 Australian Resident Claimed No No Yes $20 per fortnight (Union fees) $81,000 per annum (after allowing $15,000 salary sacrifice Salary Packaging $15,000 per annum - superannuation LPA's legal advisor has confirmed that Debra's contract will be deemed by the law as an effective salary sacrifice agreement and the amount of salary being sacrificed is $15,000. . Monarch Institute 2022. erved. FNSPAY505 Assignment Student Copy v2.5 Modified by: Compliance Modified on:25.11.2022 This is a video assessment activity Roles: This role play has two (2) roles: Scenario: You: The payroll officer for Little Pear Administration Pty Ltd Debra Foy (an employee of LPA) Meet with Debra and explain her salary packaging arrangement and the possible impacts that a change in the legislation will have on her situation. There is no script for this role play. During your meeting address the dot points below and answer any questions Debra may have regarding her situation. This task is designed to help assess your ability to: Meet with Debra and greet her appropriately and professionally Explain to Debra the two key changes if this bill becomes law Explain to Debra her current employment arrangement Assess the possible impacts of the new bill to Debra's current employment arrangements and explain the impacts to her Explain your workings to Debra and any calculations you have made Answer any questions that Debra may have on the legislation or how you arrived at the calculations. Confirm that Debra understands how these changes affect her.
Expert Answer:
Related Book For
Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets
ISBN: 978-0078024061
5th edition
Authors: Frederick S. Hillier, Mark S. Hillier
Posted Date:
Students also viewed these accounting questions
-
People are affected by alcohol in different ways. List the seven (7) factors that can influence the effect alcohol has on a person?
-
A decentralized organization structure is one which senior management has changed the authority for some types of decision making to lower levels in the organization how can be explained...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Pew Research published survey results from two random samples. Both samples were asked, Have you listened to an audio book in the last year? The results are shown in the table below. a. Find and...
-
Provide an example of a company with a high profit margin. Provide an example of a company with a high asset turnover.
-
Question 2 How can you determine the proper disposal protocols for remaining chemicals in your kit?
-
Veering off the mission is one of the key challenges in the boardroom. Why is mission focus so essential to an organization?
-
Figure shows that for any given demand curve for the right to pollute, the government can achieve the same outcome either by setting a price with a corrective tax or by setting a quantity with...
-
Question 4 The meaning of goodwill in accounting is: The amount by which a company's value exceeds the value of its individual assets and liabilities. The cost of developing, maintaining, or...
-
Fresno Industries Inc. manufactures and sells high-quality camping tents. The company began operations on January 1 and operated at 100% of capacity (150,000 units) during the first month, creating...
-
Q1# list down different ways for Hypervisor connectivity Q#2 Can you perform ssh from one ESXi host to other, if yes then identify the steps to perform this activity. Q#3 Identify different functions...
-
Explain the difference between prejudice and discrimination,provide examples andexplain how organizational leaders can prevent prejudice from resulting in discriminatory behavior? Discuss the actions...
-
Suppose that the CPR used to estimate prepayments is 8%. What is the corresponding SMM?
-
Discuss the impact of environmental stressors, such as temperature fluctuations, nutrient availability, and chemical exposures, on meiotic chromosome dynamics, recombination frequency, and gamete...
-
You have XYZ trading at $42. European 6-month 40 calls and puts are traded at: CallPut bid/ask5 / 5.52.75/ 3.25 Assuming the risk free rate is 0%, do you see any arbitrage opportunity? Justify your...
-
(x2)-2 solve +1=5x 3 :
-
Timothy is 21 years old. He lives with his father and mother, Sam and Diane. Timothy is a full time student at Utopia University. However, he also works some nights and weekend hours at the local...
-
on 8 For the following set of lengths 130, 170, 160, 160, 150, 190 Third quartile is: et red d out of Select one: O a. 160 a question O b. 145 O c. 175 O d. 180
-
a. Formulate this problem in linear programming terms by identifying all the activities, resources, benefits, and fixed requirements that lurk within it. b. Formulate and solve a spreadsheet model...
-
Consider the Big M Co. problem presented in Section 3.5, including the spreadsheet in Figure 3.10 showing its formulation and optimal solution. There is some uncertainty about what the unit costs...
-
Reconsider the Goferbroke Co. case study, including its analysis in Sections 9.6 and 9.7. With the help of the consulting geologist, Jennifer Flyer now has obtained some historical data that provides...
-
The following information is taken from the records of Cramer Corporation on March 31 of the current year. The accounts and balances needed to complete this problem are provided in the Working...
-
Use the working papers from Application Problem 20-2 to complete this problem. Instructions: Prepare a statement of cost of goods manufactured for Cramer Corporation. The statement is for the month...
-
The following information is taken from the records of Simmons Corporation on May 31 of the current year. The accounts and balances needed to complete this problem are provided in the Working Papers....
Study smarter with the SolutionInn App