logo

Taxation Law Assignment Solution

   

Added on  2023-06-15

10 Pages1771 Words164 Views
Running head: TAXATION LAW
Taxation Law
Name of the Student
Name of the University
Authors Note
Course ID

1TAXATION LAW
Table of Contents
Answer to question 1:.................................................................................................................2
Answer to question 2:.................................................................................................................2
Answer to question 3:.................................................................................................................2
Answer to question 4:.................................................................................................................5
Answer to question 5:.................................................................................................................5
Reference List:...........................................................................................................................9

2TAXATION LAW
Answer to question 1:
Calculation of PayG Deductions and Net Wages Payable
Payee's
Name
Annual
Salary
Gross Weekly
Salary
Tax
Withheld
Tax
Applicable
Net Weekly
Wages
Sarah 52000 1000 183 0 817
Ellie 18720 360 1 0 359
Micheal 62400 1200 252 0 948
Lisa 28600 550 48 0 502
Mitch 0 0 0 Nil
Clintalle 220 0 0 Nil
Total 484 2626
Answer to question 2:
Calculation of Superannuation Guarantee Obligation
Payee's Name Salary
Quarterly Times
Earnings Superannuation Guarantee
Sarah 52000 13000 1235
Ellie 18720 4680 444.6
Micheal 62400 15600 1482
Lisa 28600 7150 679.25
Mitch 1500 1500 142.5
Clintalle 3190 3190 303.05
Answer to question 3:
Computation of Net Tax Payable
Inclusive
of GST GST
Particulars Amount
($)
Amoun
t ($) Section Amount
($)
Assessable Income:
Training Fees $
82,698.00
$
8,269.8
0
Section 6-5 of
ITAA 97
$
74,428.2
0
Share of Prize money from
Customer horses
$
44,000.00
$
4,400.0
0
Section 6-5 of
ITAA 97
$
39,600.0
0
Prize money from Broadmeadow $ $ $

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Taxation Law: Calculation of PayG Deductions, Superannuation Guarantee Obligation, Net Tax Payable, and Input Tax Credit
|12
|2119
|246

Principles of Taxation Law
|9
|1386
|172

Principles of Taxation Law - Desklib
|8
|1431
|336

Taxation Law Assignment: Payroll, Superannuation, Assessable Receipts, GST Credits and Reporting
|8
|1360
|164

Taxation Law: Computation of Payroll Schedule, Superannuation Guarantee Obligations, GST Calculation and Reporting
|6
|739
|152

LAW 79017 - Small Business Taxation Law
|6
|930
|48