Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ms . Lisa Mark has been employed with PwC Consulting since January 2 0 0 0 . She earns a base salary of K 1

Ms. Lisa Mark has been employed with PwC Consulting since January 2000. She earns a base salary of K1,200 per fortnight. Ms. Mark retired from her position at the end of December 2023 due to reaching the retirement age. She submitted a tax declaration form claiming two dependents. Her final payment includes:
Accrued annual leave payment for 4 fortnights amounting to K4,800.
Ex Gratia payment of K15,000.
Payment in lieu of notices for 2 fortnights totalling K2,400.
Superannuation payment:
Accrued prior to January 1,1993- K8,500.00
Accrued after January 1,1993- K120,000.00
Of the superannuation payment, 80% comprises the employer and interest components.
Required: Calculate Ms. Lisa Mark's final payment and total tax payable.

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

College Accounting Chapters 1-15

Authors: James A Heintz, Robert W Parry

19th Edition

0324376162, 978-0324376166

More Books

Students also viewed these Accounting questions