Jacqueline Elliott is employed to Make-All Co. Limited since 2009 and worked her way up from filing clerk now to assistant general manager. In 2014, her annual pay package included: salary of $890,000 and bonuses (10% of salary); she also received director’s fees of $15,000.00 per month from January for 12 months. Elliott was contracted by her father as a consultant for his marketing company. He paid her $170,000.00 from his personal bank account and his company reimbursed him what he paid his daughter that is after paying her $520,000.00 to complete her contractual agreement. She contributes 10% of her gross emoluments to a Pension Plans of Make-All Co. Limited and also her father’s company. Her national insurance contribution is 2.5% of her gross emoluments up to a maximum of $3,000,000.00. Calculate PAYE deductions of Elliott for the year ending December 31, 2014? How much would be the net pay of Elliott? What is the income tax threshold/personal allowance in 2014 in Jamaica?
Jacqueline Elliott is employed to Make-All Co. Limited since 2009 and worked her way up from filing clerk now to assistant general manager. In 2014, her annual pay package included: salary of $890,000 and bonuses (10% of salary); she also received director’s fees of $15,000.00 per month from January for 12 months. Elliott was contracted by her father as a consultant for his marketing company.
He paid her $170,000.00 from his personal bank account and his company reimbursed him what he paid his daughter that is after paying her $520,000.00 to complete her contractual agreement. She contributes 10% of her gross emoluments to a Pension Plans of Make-All Co. Limited and also her father’s company. Her national insurance contribution is 2.5% of her gross emoluments up to a maximum of $3,000,000.00.
Calculate PAYE deductions of Elliott for the year ending December 31, 2014?
How much would be the net pay of Elliott?
What is the income tax threshold/personal allowance in 2014 in Jamaica?
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