Answered step by step
Verified Expert Solution
Question
1 Approved Answer
. My answer attachedShelby has worked as a full - time employee for Venture Consulting for 1 8 years. She has decided to move interstate
My answer attachedShelby has worked as a fulltime employee for Venture Consulting for years. She
has decided to move interstate and her final pay includes his unused leave entitlements. Calculate the correct PAYG amount to be withheld from Shelby's payment for unused leave on termination. Shelby is an Australian resident and claims the taxfree threshold from this job. On th July Shelby is due to receive $ in unused annual leave and $ in unused long service leave. Her regular weekly wage payment is Use the marginal rate calculation process in the table below to calculate the correct PAYG withholding amount to be withheld from her leave payments.
Calculation of tax on unused leave $
Step Use PAYG withholding tables to work out amount to withhold from normal gross pay
Step Divide the total leave payment owed by pay periods in the year
Step Disregard any cents
Step Add amount in step to normal gross earnings for a pay period
Step Use PAYG withholding tables to work out tax on amount in Step
Step Subtract the amount at step from the amount at step
Step Multiply the amount at Step by the number of pay periods in the year
Gross leave payment
Less PAYG Withholding
Net Leave Payment
Why is the weekly tax $ and not $ as per australian tax offce weekly PAYG table pic attachedWeekly tax table
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started