Question
Can I please have some assistance in checking my calculations are correct Thank you Employee 001 - Sue Wang Pay rate (Step 1): $31.61 Hourly
Can I please have some assistance in checking my calculations are correct Thank you
Employee 001 - Sue Wang
| Pay rate (Step 1): | $31.61 Hourly | Employment classification | Retail Worker level 2 |
| Pay period | Start date: 11 July 2022 | End date: 17 July 2022 | Forwarded to head office: |
| Employment type | Casual | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 15 | $31.61 | $31.61 x 15 = $474.15 |
| Ordinary time Casual Loading | Yes | ||
| Ordinary Saturday | N/A | ||
| Ordinary Sunday | 5 | $44.26 | $44.26 x 5 = $221.30 |
| Overtime | N/A | ||
| Gross pay | $695.45 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | |||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | |||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $78.00 | ||
| HELP | |||
| Total PAYG withholding | |||
| Deductions | |||
| Child support | |||
| Salary sacrifices (e.g., Car Payment) | |||
| Net pay | $695.45-$78.00 = $617.45 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $73.02 | ||
| Total superannuation | $73.02 |
Employee 002 - Richard Swift
| Pay rate (Step 1): | $31.61 | Employment classification | Retail Worker level 2 |
| Pay period | Start date: 11 July 2022 | End date: 17 July 2022 | Forwarded to head office: |
| Employment type | Casual | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 12 | $31.61 | $31.61 x 12 = $379.32 |
| Ordinary time Casual Loading | Yes | ||
| Ordinary Saturday | 4 | $37.94 | $37.95 x 4 = $151.76 |
| Ordinary Sunday | 4 | $44.26 | $44.26 x 4 = $177.04 |
| Overtime | |||
| Gross pay | $708.12 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | |||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | |||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $182.00 | ||
| HELP | |||
| Total PAYG withholding | $182.00 | ||
| Deductions | |||
| Child support | $50.00 | ||
| Salary sacrifices (e.g., Car Payment) | |||
| Net pay | $476.12 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $74.35 | ||
| Total superannuation | $74.35 |
Employee 003 - Paul Singh
| Pay rate (Step 1): | $25.68 | Employment classification | Retail Worker level 3 |
| Pay period | Start date: 11 July 2022 | End date: 17 July 2022 | Forwarded to head office: |
| Employment type | Full time | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 30.4 | $25.68 | $25.68 x 30.4 = $780.67 |
| Ordinary Saturday | 7.6 | $32.10 | $32.1. x 7.6 = $243.96 |
| Ordinary Sunday | |||
| Overtime | 2 | $32.10 | $64.20 |
| Holiday pay (A/L) | |||
| Holiday leave loading (17.5%) | |||
| Personal leave paid | |||
| Gross pay | $1088.83 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | $50.00 | ||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $210.00 | ||
| HELP | |||
| Total PAYG withholding | $210.00 | ||
| Deductions | |||
| Child support | |||
| Salary sacrifices (e.g., Car Payment) | |||
| Net pay | $778.83 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $114.32 | ||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Total superannuation | $164.32 |
Employee 004 - Al Carron
| Pay rate (Step 1): | $58,000 pa $27.66 ph | Employment classification | Retail Worker level 6 |
| Pay period | Start date: 11 July 2022 | End date: 17 July 2022 | Forwarded to head office: |
| Employment type | Full time | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 38 | $27.66 * 38 = $1051.08 | |
| Ordinary Saturday | |||
| Ordinary Sunday | |||
| Overtime | |||
| Holiday pay (A/L) | |||
| Holiday leave loading (17.5%) | |||
| Personal leave paid | |||
| Gross pay | $1051.08 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | $50.00 | ||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $197.00 | ||
| HELP | |||
| Total PAYG withholding | $197.00 | ||
| Deductions | |||
| Child support | |||
| Salary sacrifices (e.g., Car Payment) | $100 | ||
| Net pay | $739.08 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $110.36 | ||
| Salary sacrifice - additional super contribution | $50 | ||
| Total superannuation | $160.36 |
Part 1: Individual pay summary for the pay period of 18 July to 24 July 2022
Again, ensure you extend or add rows or columns as applicable (e.g. for additional wage categories to account for Penalty Rates).
Employee 001 - Sue Wang
| Pay rate (Step 1): | $31.61 | Employment classification | Retail Worker level 2 |
| Pay period | Start date: 18 July 2022 | End date: 24 July 2022 | Forwarded to head office: |
| Employment type | Casual | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 15 | $31.61 * 15 = $474.15 | |
| Ordinary time Casual Loading | |||
| Ordinary Saturday | 5 | $37.94 * 5 = $189.70 | |
| Ordinary Sunday | |||
| Overtime | |||
| Gross pay | $663.85 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | |||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | |||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $71.00 | ||
| HELP | |||
| Total PAYG withholding | $71.00 | ||
| Deductions | |||
| Child support | |||
| Salary sacrifices (e.g., Car Payment) | |||
| Net pay | $592.85 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $69.70 | ||
| Total superannuation | $69.70 |
Employee 002 - Richard Swift
| Pay rate (Step 1): | $31.61 | Employment classification | Retail Worker level 2 |
| Pay period | Start date: 18 July 2022 | End date: 24 July 2022 | Forwarded to head office: |
| Employment type | Casual | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 12 | $31.61 * 12 = $379.32 | |
| Ordinary time Casual Loading | |||
| Ordinary Saturday | 4 | $37.94 * 4 = $151.76 | |
| Ordinary Sunday | 4 | $44.26 * 4 = $177.04 | |
| Overtime | |||
| Gross pay | $708.12 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | |||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | |||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $182.00 | ||
| HELP | |||
| Total PAYG withholding | |||
| Deductions | |||
| Child support | $50.00 | ||
| Salary sacrifices (e.g., Car Payment) | |||
| Net pay | $476.12 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $74.35 | ||
| Total superannuation | $74.35 |
Employee 003 - Paul Singh
| Pay rate (Step 1): | $25.68 | Employment classification | Retail Worker level 3 |
| Pay period | Start date: 18 July 2022 | End date: 24 July 2022 | Forwarded to head office: |
| Employment type | Full time | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | |||
| Ordinary Saturday | |||
| Ordinary Sunday | |||
| Overtime | |||
| Holiday pay (A/L) | 38 | $25.68 * 38 = $975.84 | |
| Holiday leave loading (17.5%) | 38 | $25.68 * 38 = $975.84 * 17.5% = 170.77 | |
| Personal leave paid | |||
| Gross pay | $1146.61 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | $50.00 | ||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $178.00 | ||
| HELP | |||
| Total PAYG withholding | $178.00 | ||
| Deductions | |||
| Child support | |||
| Salary sacrifices (e.g., Car Payment) | |||
| Net pay | $918.61 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $102.46 | ||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Total superannuation | $152.46 |
Employee 004 - Al Carron
| Pay rate (Step 1): | 58,000 pa | Employment classification | Retail Worker level 6 |
| Pay period | Start date: 18 July 2022 | End date: 24 July 2022 | Forwarded to head office: |
| Employment type | Full time | ||
| Gross wages | Hours (Step 2) | Rate (Step 3) | Calculation (Step 4) |
| Ordinary time (Mon - Fri) | 38 | $27.66 * 38 = $1051.08 | |
| Ordinary Saturday | |||
| Ordinary Sunday | |||
| Overtime | |||
| Holiday pay (A/L) | |||
| Holiday leave loading (17.5%) | |||
| Personal leave paid | |||
| Gross pay | $1051.08 | ||
| Step 5: Calculate the Net Pay | |||
| Allowances | |||
| Car | $50.00 | ||
| Pre-tax deductions | |||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Tax offsets | |||
| Taxes | |||
| PAYG tax | $176.00 | ||
| HELP | |||
| Total PAYG withholding | $176.00 | ||
| Deductions | |||
| Child support | |||
| Salary sacrifices (e.g., Car Payment) | $100.00 | ||
| Net pay | $725.08 | ||
| Superannuation (Step 6) | |||
| Superannuation guarantee (@10.5% of Gross pay) | $110.36 | ||
| Salary sacrifice - additional super contribution | $50.00 | ||
| Total superannuation | $160.36 |
Ordinary hours | Monday to Friday after 6.00pm | Saturday | Sunday | Public holiday | |
|---|---|---|---|---|---|
Full time staff | % of minimum hourly rate | ||||
100% | 125% | 125% | 150% | 225% | |
$ | $ | $ | $ | $ | |
Retail Employee Level 1 | 24.73 | 30.91 | 30.91 | 37.10 | 55.64 |
Retail Employee Level 2 | 25.29 | 31.61 | 31.61 | 37.94 | 56.90 |
Retail Employee Level 3 | 25.68 | 32.10 | 32.10 | 38.52 | 57.78 |
Retail Employee Level 4 | 26.18 | 32.73 | 32.73 | 39.27 | 58.91 |
Retail Employee Level 5 | 27.26 | 34.08 | 34.08 | 40.89 | 61.34 |
Retail Employee Level 6 | 27.66 | 34.58 | 34.58 | 41.49 | 62.24 |
Retail Employee Level 7 | 29.04 | 36.30 | 36.30 | 43.56 | 65.34 |
Retail Employee Level 8 | 30.22 | 37.78 | 37.78 | 45.33 | 68.00 |
.2.1 varied byPR718821; corrected byPR725977;varied byPR727385,PR729257,PR740678,PR762112ppc 01Jul23]
Ordinary hours | Monday to Friday after 6.00pm | Saturday | Sunday | Public holiday | |
|---|---|---|---|---|---|
Casual adult employees | % of minimum hourly rate | ||||
125% | 150% | 150% | 175% | 250% | |
$ | $ | $ | $ | $ | |
Retail Employee Level 1 | 30.91 | 37.10 | 37.10 | 43.28 | 61.83 |
Retail Employee Level 2 | 31.61 | 37.94 | 37.94 | 44.26 | 63.23 |
Retail Employee Level 3 | 32.10 | 38.52 | 38.52 | 44.94 | 64.20 |
Retail Employee Level 4 | 32.73 | 39.27 | 39.27 | 45.82 | 65.45 |
Retail Employee Level 5 | 34.08 | 40.89 | 40.89 | 47.71 | 68.15 |
Retail Employee Level 6 | 34.58 | 41.49 | 41.49 | 48.41 | 69.15 |
Retail Employee Level 7 | 36.30 | 43.56 | 43.56 | 50.82 | 72.60 |
Retail Employee Level 8 | 37.78 | 45.33 | 45.33 | 52.89 | 75.55 |
Monday to Saturday - first 3hours | Monday to Saturday - after 3hours | Sunday - all day | Public holiday | |
|---|---|---|---|---|
All full-time and part-time adult employeesovertime rates | % of minimum hourly rate | |||
150% | 200% | 200% | 250% | |
$ | $ | $ | $ | |
Retail Employee Level 1 | 37.10 | 49.46 | 49.46 | 61.83 |
Retail Employee Level 2 | 37.94 | 50.58 | 50.58 | 63.23 |
Retail Employee Level 3 | 38.52 | 51.36 | 51.36 | 64.20 |
Retail Employee Level 4 | 39.27 | 52.36 | 52.36 | 65.45 |
Retail Employee Level 5 | 40.89 | 54.52 | 54.52 | 68.15 |
Retail Employee Level 6 | 41.49 | 55.32 | 55.32 | 69.15 |
Retail Employee Level 7 | 43.56 | 58.08 | 58.08 | 72.60 |
Retail Employee Level 8 | 45.33 | 60.44 | 60.44 | 75.55 |
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
