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Required:
Compute the gross taxable taxation compensation income.___________
Required:
Compute the taxable “13th month pay and other benefits” assuming the
employee is a:
1. Rank and file employee ______________
2. Managerial or supervisory employee ______________
Required:
Compute the gross taxable compensation income assuming the employee became
a:
1. Minimum wage earner starting May 1
2. Regular employee by promotion starting May 1
4. Which do not form part of other benefits of rank and file employees?
a. Excess of de minimis over their legal limits
b. Salaries and wages
c. Productivity incentive
d. Employee educational assistance
10. Which is correct when a minimum wage earner derive other income
outside his employment?
a. He is subject to withholding tax and income tax
b. He is neither subject to withholding tax nor income tax
c. He is exempt from withholding tax, but subject to income tax
d. He is subject to withholding tax, but exempt from income tax
23. Statement 1: A minimum wage earner who loses the benefit of exemption
by transferring to a region with a lower minimum wage is taxable on
all income during the year
Statement 2: A minimum wage earner who qualifies as such during the
year is exempt from tax on all income earned during the year.
Which is correct?
a. Both statements are correct
b. Both statements are incorrect
c. Only statement 1 is correct
d. Only statement 2 is correct
De minimis benefits:
Medical assistance to employee 22,000
Total of other de minimis benefits 32,000
14. A regular employee became a minimum wage earner when the minimum wage
was increased effective the last quarter of 2019: