Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complex payroll calculations Over The Hill ( Pty ) Ltd is an outdoor gear supplier specialising in clothing and equipment for the adventurous youth market.

Complex payroll calculations
Over The Hill (Pty) Ltd is an outdoor gear supplier specialising in clothing and equipment for the adventurous youth market. Although the bulk of their production occurs overseas, they do have a couple of locally based employees to manage operations and sales. Vincent Tambile, a 52-year-old veteran of the industry, is the general manager. He earns a basic salary package of R38,000 per month. Daniella Fortuin is 34 years old, and heads up sales and marketing. For the month in question (January 2022), she earned a basic salary of R8,000 and commission of R9,200. Megan Andrews is a young university graduate, responsible for the full accounts and finance functions of the business. She earns a flat salary of R10,500 per month. Viresh Govender is a sprightly 71-year-old who has chosen to continue working in retirement because of his love for the industry. He operates the production and stock control side of things, and earns a basic salary of R7,000 per month. Daniella had already used up her full leave allocation for the year by the end of December, but was allowed to take an extra three days off in January, as unpaid leave, to attend her brothers wedding overseas. In covering for her, Viresh put in R2,300 worth of overtime for the month.
After checking with Megan, you have found out that the business operates on the rule of thumb that there are 22 working days in any given month.
2.1 What are the PAYE deductions for each of the four employees for the month? (Max.16 lines)
Start writing here:
2.2 What is the full amount of UIF that will be paid over to SARS for the month? (Max.8 lines)
Start writing here:
2.3 Are there any other monthly deductions or contributions that would apply to the employer, Over The Hill (Pty) Ltd? Explain your answer, with figures where appropriate. (Max.8 lines)
Start writing here:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

20th Edition

1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870

More Books

Students also viewed these Accounting questions