The following points relate to the question above:

The income tax threshold is $1,500,096 per annum

NIS: Employee 3%, Employer 3% (NIS ceiling: $3 million and $5 million)

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

Eric Brown is an Accountant employed to S.E.A.R.C.H. Limited, in a supervisory position. His basic gross pay per annum is $5,000,000 for 2022. He contributes 5% of his pay to an approved pension scheme. For the month of June, S.E.A.R.C.H. Limited paid an incentive bonus of 20% to Senior Managers, 15% to Supervisory Staff and 10% to other categories of workers. Mr. Brown lives at an apartment that is owned by S.E.A.R.C.H. Limited. The rent for similar apartments in the same geographical area is US$1000 per month. Employees in the supervisory position receive an annual non-taxable motor vehicle allowance of $540,000. Mr. Brown asked S.E.A.R.C.H. Limited to deduct monthly from his salary $23,000 for credit union loan and $35,000 to National Housing Trust (NHT). Mr. Brown pays $36,000.00 per annum for health insurance. Starting in June 2022, S.E.A.R.C.H. Limited gave all its employees a 5% annual increase in salary that was retroactive from January 2022. The exchange rate for June 2022 is JA$160 to US$1

Required:

a) Calculate the net pay for Eric Brown for the month of June 2022.

b) Compute the payroll taxes that S.E.A.R.C.H. Limited will pay as a company if they only employed Mr. Brown.