Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the information provided below determine the PAYG to be deducted from the employee's annual leave, and the net pay he will receive using the

Using the information provided below determine the PAYG to be deducted from the employee's annual leave, and the net pay he will receive using the NAT 1006 tax table.

Swanson Prior has worked for XYZ Pty Ltd for the past 4 years in a full-time capacity as an architect. He is an Australian resident for tax purposes and receives an annual salary of $96,200. He is paid fortnightly and has no HELP, SSL or TSL debt. Swanson is paid a fortnightly salary of $3,700 before tax, and he did not select the tax-free threshold when he completed the tax declaration form. Loading of 17.5% applies to annual leave taken by Swanson.

Swanson was last paid on Friday, from the Monday following the pay day he took four weeks annual leave to travel around Europe. He will be paid for the full four weeks leave in the next pay run.  Determine the PAYG to be deducted from the employee's annual leave, and the net pay he will receive. Show all workings.

Step by Step Solution

3.51 Rating (148 Votes )

There are 3 Steps involved in it

Step: 1

To determine the PAYG to be deducted from Swansons annual leave and his net pay we first need to cal... 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

More Books

Students also viewed these Accounting questions

Question

c. Are there any prerequisites for the course?

Answered: 1 week ago

Question

Compare and contrast some methods of measuring intelligence.

Answered: 1 week ago