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Mr. Jodie San Diego, is a private employee ( resident citizen) had the following remuneration and various income in 2019: Gross compensation income P 450,000
Mr. Jodie San Diego, is a private employee ( resident citizen) had the following remuneration and various income in 2019:
Gross compensation income | P 450,000 |
Personal and living expenses | 80,000 |
SSS premiums contribution | 3,600 |
Philihealth contributions | 2,400 |
Pag-ibig contributions | 2,000 |
Union dues | 1,000 |
Fixed RATA | 12,000 |
Cost of living allowance | 24,000 |
13 th month pay | 28,000 |
Christmas gift | 5,000 |
Laundry allowance ( P 500/ month) | 8,000 |
Dividend income from a domestic corporation | 10,000 |
Interest income from bank deposits | 2,500 |
Business income | 200,000 |
Capital gain on sale of personal car | 20,000 |
Capital gain on the sale of stocks directly to a buyer | 40,000 |
Dividend income from a foreign corporation | 15,000 |
Sale of land with fair value of ( personal) | 15,000,000 |
Prize as most outstanding citizen for the year | 100,000 |
Prize in a raffle | 7.500 |
Requirements:
- How much is the total taxable and non taxable income?
- Identify the Taxable, Non taxable and Taxable non-business?
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