Question
(D) Jonathan Smith is an Australian resident and employed by House Pty Ltd as Electrician. The following transactions were all because of Jonathans employment. (5
(D) Jonathan Smith is an Australian resident and employed by House Pty Ltd as Electrician. The following transactions were all because of Jonathans employment. (5 marks, 1 for each answer) 1) Net fortnightly wages totalled $72,000 for 2021. 2) Total PAYG Tax withheld from fortnightly wages from House Pty Ltd and forwarded to the ATO $28,000 in 2021 Financial Year. 3) Rental allowance totalling $10,000. No PAYG was withheld. 4) Superannuation contributed $12,000 to House Super Fund on behalf of Jonathan. 5) Performance bonus of $22,000, of which $6,600 PAYG Tax for 2021 Financial Year was withheld. For each of the transactions indicate, which amounts are to be included in Jonathans assessable income.
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