Question
Using the information provided below determine the PAYG to be deducted from the employees annual leave, and the net pay he will receive using the
Using the information provided below determine the PAYG to be deducted from the employees annual leave, and the net pay he will receive using the NAT 1006 tax table.
Dustin Porter has worked for Youngs Law Firm Pty Ltd for the past 6 years in a full time capacity as a lawyer. He is an Australian resident for tax purposes and receives an annual salary of $120,600. He is paid fortnightly and has no HELP, SSL or TSL debt. Dustin is paid a fortnightly salary of $4,638.46 before tax, and he did not select the tax-free threshold when he completed the tax declaration form. Loading of 16.4% applies to annual leave taken by Dustin.
Dustin was last paid on Friday, from the Monday following the pay day he took 3 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 employees annual leave, and the net pay he will receive. Show all workings.
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