A. Amirah works as Accounts Executive in Blulnc Sdn Bhd and receives annual salary of RM72,000. In the evening, she runs a coffee shop which is located opposite her office. She commenced the business on 4 March 2019 the same day she celebrates her 25th birthday. REQUIRED: Determine the basis period for Amirah for the year of assessment 2019 for her: (1) (ii) employment income business income
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- b) Below is the details of payroll for Ms Amirah as at 31st March 2021. Employee's Category Conveyer Belt Operator RM 1,500 Basic rate Marriage status Single Allowance RM 543 Overtime RM 505 Monthly tax deduction 0 For year of assessment 2021 REQUIRED: Express calculation on following: i. ii. iii. Gross pay. Contribution (Employee Provident Fund and SOCSO) Net payWhich of the following person’s income is chargeable to Hong Kong salaries tax for the year of assessment 2020/21? Select one: a. Income of employment of a person having foreign employment who visited Hong Kong for 30 days for duties during the year ended 31 March 2021. b. Income from employment of a person having a Hong Kong employment who rendered all services outside Hong Kong during the year ended 31 March 2021. c. None of the above. d. Director’s fee of a person who is a director of a company incorporated in Hong Kong, who resided in Australia and visited Hong Kong for 10 days during the year ended 31 March 2021.1. A, resident citizen, has the following income for year 2019: Compensation income of 1,000,000 and Other income of 200,000. What is the income tax due? 2.The minimum wage in Marawi City is 550 per day. A, a laborer, earns 900 per day. He worked for 280 days in 2019. How much is the ANNUAL income tax due of A? 3. Asta, non-resident citizen has the following income for 2019: Business income in USA of 7,000,000 and; Compensation income of 2,000,000 earned in the Philippines. How much is the income tax due of Asta?
- Seun started his self-employment on 1 July 2020, he prepared the first period of accounts to 31 December 2021. What tax year will be his first tax year? 2020/2021 2021/2022 2019/2020 2022/2023On 6 April 2020, Ricard commenced in self-employment, running a restaurant.Richard’s sales since the commencement of trading have been as follows:April to July 2020 £10,500 per monthAugust to November 2020 £15,000 per monthDecember 2019 to March 2021 £21,500 per mothsThese figures are stated exclusive of Value added tax (VAT). Ricard’s sales are all standard rated. As a trainee Chartered Certified accountant you have advised Richard in writing that he should be registered for VAT, but he has refused to register because he thinks his net profit is insufficient to cover the additional cost which would be incurred. Required a. Explain from what date Richard was required to be compulsorily registered for VAT and VAT implications of continuing to trade after this date without registering.You are not expected to explain the VAT penalties arising from late VAT registration b. Briefly explain from an ethical viewpoint the issues you, as a trainee Chartered Certified accountant, should…Z was an employee with the following information from her employment in 2021. Salaries and wages - $57,500 RRSP contribution in the final months of 2021 - $5,500 Membership dues paid by Ms. Z’s employer on her behalf - $500 What is Ms. Z’s net employment income for 2021? ___________
- In 2019, SBC Inc. paid the various household expenses of its vice president for operation, which are broken down as follows (refer to the data below). The vice president for operation receives an annual salary of Php. 300,000 and fixed representation and travel allowance of Php. 50,000 per month in addition to the above mentioned household expenses. 5 housemaids Housemaid with a monthly salary of Php. 3,500 Personal driver of the wife with a monthly salary of Php. 6,000 1 driver House gardener and maintenance with a monthly salary of Php. 4,000 Driver of children attending school with a monthly salary of Php. 6,000 Garbage due at Php. 500 per month Homeowner's monthly dues of Php.800 2 gardeners 1 driver COMPUTE FOR THE TOTAL ACTUAL MONETARY VALUE COMPUTE FOR THE GUMV COMPUTE FOR THE FBT How much is the total credits to Cash?You are provided with the following amounts for Sarah Feeley for the current year: View the amounts. Based on the amounts, what is the net income reported by Sarah Feeley pursuant to ITA 3 for the current year? OA. $60,180 O B. $65,080 OC. $57,680 O D. $72,480 Amounts Net employment income (ITA 5 to 8) Interest income (ITA 12) Taxable amount of dividends Taxable capital gains (ITA 38 to 55) Allowable capital losses (ITA 38 to 55) RRSP deduction (allowed pursuant to ITA 60) Print Done $ $ $ 62,000 7,600 1,380 4,900 7,400 10,800 - XK You are provided with the following amounts for Diane Welsey for the current year: View the amounts. Based on the amounts, what is the net income reported by Diane Welsey pursuant to ITA 3 for the current year? A. $49,660 OB. $65,460 OC. $57,560 OD. $51,560 Ask my instructor Amounts Net employment income (ITA 5 to 8) Interest income (ITA 12) Taxable amount of dividends Taxable capital gains (ITA 38 to 55) Allowable capital losses (ITA 38 to 55) RRSP deduction (allowed pursuant to ITA 60) $ 54,000 8,700 1,460 6,000 7,900 12,600 $ I
- On 1 April 2019, Mia accepts an offer of employment from Priceline Pty Ltd. Her salary package includes a company car worth $55,000 Throughout the FBT year Mia paid $3,500 for petrol. Mia did not keep a logbook. Priceline is entitled to claim input taxed credits for GST purposes. Required: Advise Priceline Pty Ltd as to the relevant section of the FBTAA to apply... then show the relevant formula and... then calculate the fringe benefits tax payable (rounded to the nearest dollar) for the 2020 FBT year.a. Use the percentage method to calculate the amount of Sophie's withholding for a monthly pay period. Sophie's withholding: Feedback b. Use the wage bracket method to determine the amount of Sophie's withholding for the same period. Feedback c. Use the percentage method assuming Sophie completed a post-2019 Form W-4 and checked only the single box in Step 1(c). Feedback d. Use the wage bracket method using the same assumptions in part c of this question. %24(v) Mr. Ravi, Guwahati is an employee of Govt. of Assam. His particulars of income for the previous year 2019-20 were as under : Basic Salary Rs. 7,20,000 Dearness Allowance Rs. 90,000 Taxable Perquisites Rs. 30,000 Professional tax paid by the employee Rs. 3,000. Determine his income from salary for the assessment year 2020-21. 10