Question
The following notes relate to parts a) and b) of this question: The income tax threshold is $1,500,096 per annum NIS: Employee 3%, Employer 3%
The following notes relate to parts a) and b) of this question:
The income tax threshold is $1,500,096 per annum
NIS: Employee 3%, Employer 3% (NIS ceiling :3% of $1.5 mil or $3 Mil)
NHT: Employee 2%, Employer 3%
Ed Tax: Employee 2.25%, Employer 3.5%
Heart: Employee N/A, Employer 3%
Income Tax: Employee 25% and 30%, Employer N/A
A.An employee is earning $8,000 per week as gross pay and given a non-taxable uniform allowance of $1,000 per week.The company pays $3,000 for the employee's rent on a weekly basis to an unconnected person.
Calculate the net pay for the employee for the week and the payroll tax payment for the employer.
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