Taxation

QUESTION THREE Mr. Asempa is employed as an Financial Accountant with Tema Brewery Ltd on a basic salary of GHC 8,500.00 per month. He is also entitled to a professional allowance of GHC 600.00 per month. Mr Asempa is provided with furnished accommodation by his employers and fuel for his own vehicle. She contributes to the Social Security Fund. Required: Determine Mr. Asempa's chargcable income for the month. What is his tax liability? QUESTION FOUR Mrs. Quansah retired prematurely from the Ministry of Finance & Economic Planning and joined Jobel & Associates as an Associate Consultant with effect from 1" September, 2012. She was placed on a salary scale of GHC 210,600, X 9,820 - GHC 249,880 per annum plus the following allowance: Professional Risk Allowance GHC 1,200 per month Responsibility Allowance GHC 1,100 per month Inconvenience Allowance GHC 500 per month She was provided with fully-furnished accommodation and night watchman, pick-up with a driver and fuel and a labourer to keep her residence always tidy. They were all paid GHC 700 a month each directly on the payroll by the firm. The other details are as follows: Quansah's children were also attending Amoh International School with fees of GHC 3,500 per annum. She also took care of her aged mother and another old dependent at her church. Although she is already Chartered Accountant, she also undertaking a self-financed professional course in Management Consultancy Required: a) Compute Mrs. Quansah's chargeable income for the year of assessment 2014 (8 Marks) b) Determine her Tax liability and Net Disposable (take home/pocket) Income. (2 Marks) c) Is Mrs. Quansah under a contract of or for employment? State any three (3) reasons for your