Jun, a minimum wage earner, works for a foundation. He is not engaged in business nor has any other source of income other than his employment. In 2018, Jun earned a total compensation income of P135,000. He contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th month pay of P11,000. In 2019, Jun earned, aside from his basic wage, additional pay of P140,000 which consists of the overtime pay of P80,000, night shift differential of P30,000, hazard oay of P15,000 and holiday pay of P15,000. He contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th month pay of P11,000. What is his income tax liability in 2019? a. 2,600 b. 1,800 c. 0 d. 2,200

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Jun, a minimum wage earner, works for a foundation. He is not engaged in
business nor has any other source of income other than his employment. In 2018,
Jun earned a total compensation income of P135,000. He contributed to the SSS,
Philhealth, and HDMF amounting to P5,000 and has received 13th month pay of
P11,000. In 2019, Jun earned, aside from his basic wage, additional pay of
P140,000 which consists of the overtime pay of P80,000, night shift differential
of P30,000, hazard oay of P15,000 and holiday pay of P15,000. He contributed
to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th
month pay of P11,000. What is his income tax liability in 2019?

a. 2,600
b. 1,800
c. 0
d. 2,200

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