Question
Determine the PAYG to be deducted from the employee's annual leave, and the net pay he will receive using the NAT 1006 tax table. Swanson
Determine the PAYG to be deducted from the employee's annual leave, and the net pay he will receive using the NAT 1006 tax table.
Swanson Prior has worked for XYZ Pty Ltd for the past 4 years in a full time capacity as an architect. He is an Australian resident for tax purposes and receives an annual salary of $96,200. He is paid fortnightly and has no HELP, SSL or TSL debt. Swanson is paid a fortnightly salary of $3,700 before tax, and he did not select the tax free threshold when he completed the tax declaration form.Loading of 17.5% applies to annual leave taken by Swanson.
Swanson was last paid on Friday, from the Monday following the pay day he took four weeks annual leave to travel around Europe. He will be paid for the full four weeks leave in the next pay run. Determine the PAYG to be deducted from the employee's annual leave, and the net pay he will receive.
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