Taxtable Note: use this tax table Chargeable Income ($) Resident Individual 0-30,000 Non-Resident Individual Income Tax ($) Nil Income Tax ($) 20% of excess over $0 30,001 - 50,000 18% of excess over $30,000 $6,000+20% of excess over $30,000 50,001 - 270,000 $3,600+20% of excess over $50,000 $10,000+20% of excess over $50,000 270,001-300,000 $47,600+33% of excess over $270,000 $54,000+33% of excess over $270,000 300,001-350,000 $57,500+ 34% of excess over $300,000 $63,900+34% of excess over $300,000 350,001-400,000 $74,500+35% of excess over $350,000 $80,900 +35% of excess over $350,000 400,001-450,000 $92,000+36% of excess over $400,000 $98,400+36% of excess over $400,000 450,001-500,000 $110,000+37% of excess over $450,000 $116,400 +37% of excess over $450,000 500,001 1,000,000 $128,500+38% of excess over $500,000 $134,900+38% of excess over $500,000 1,000,001 + $318,500+39% of excess over $1,000,000 $324,900+39% of excess over $1,000,000 QUESTION 2 Part A Mr. Anderson (Taxpayer) is a resident of Fiji, working as an accountant for South Green Limited. The following has been extracted for the year ended 2023: Annual salary $250,000.00 Mr. Anderson also provides consultancy service to other businesses, from which he earns $30,000.00. Note: use the tax table that is provided in the 1 second image as given Required: 1. Calculate Mr. Anderson's Total income. 2. Calculate Mr. Anderson's PAYE Tax.、 Part B Mr. Johnson earns a salary of $42,800 in a year. PAYE deducted at $2,100.00. Calculate tax payable or refund for the year 2023
Taxtable Note: use this tax table Chargeable Income ($) Resident Individual 0-30,000 Non-Resident Individual Income Tax ($) Nil Income Tax ($) 20% of excess over $0 30,001 - 50,000 18% of excess over $30,000 $6,000+20% of excess over $30,000 50,001 - 270,000 $3,600+20% of excess over $50,000 $10,000+20% of excess over $50,000 270,001-300,000 $47,600+33% of excess over $270,000 $54,000+33% of excess over $270,000 300,001-350,000 $57,500+ 34% of excess over $300,000 $63,900+34% of excess over $300,000 350,001-400,000 $74,500+35% of excess over $350,000 $80,900 +35% of excess over $350,000 400,001-450,000 $92,000+36% of excess over $400,000 $98,400+36% of excess over $400,000 450,001-500,000 $110,000+37% of excess over $450,000 $116,400 +37% of excess over $450,000 500,001 1,000,000 $128,500+38% of excess over $500,000 $134,900+38% of excess over $500,000 1,000,001 + $318,500+39% of excess over $1,000,000 $324,900+39% of excess over $1,000,000 QUESTION 2 Part A Mr. Anderson (Taxpayer) is a resident of Fiji, working as an accountant for South Green Limited. The following has been extracted for the year ended 2023: Annual salary $250,000.00 Mr. Anderson also provides consultancy service to other businesses, from which he earns $30,000.00. Note: use the tax table that is provided in the 1 second image as given Required: 1. Calculate Mr. Anderson's Total income. 2. Calculate Mr. Anderson's PAYE Tax.、 Part B Mr. Johnson earns a salary of $42,800 in a year. PAYE deducted at $2,100.00. Calculate tax payable or refund for the year 2023
Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation
Section: Chapter Questions
Problem 38P
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Please answer this questions I need help from your accounting expert. Help me. Please answer this questions by referring to the tax table on second image as given.
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Transcribed Image Text:Taxtable
Note: use this tax table
Chargeable Income ($)
Resident Individual
0-30,000
Non-Resident Individual
Income Tax ($)
Nil
Income Tax ($)
20% of excess over $0
30,001 - 50,000
18% of excess over $30,000
$6,000+20% of excess over $30,000
50,001 - 270,000
$3,600+20% of excess over $50,000
$10,000+20% of excess over $50,000
270,001-300,000
$47,600+33% of excess over $270,000
$54,000+33% of excess over $270,000
300,001-350,000
$57,500+ 34% of excess over $300,000
$63,900+34% of excess over $300,000
350,001-400,000
$74,500+35% of excess over $350,000
$80,900 +35% of excess over $350,000
400,001-450,000
$92,000+36% of excess over $400,000
$98,400+36% of excess over $400,000
450,001-500,000
$110,000+37% of excess over $450,000
$116,400 +37% of excess over $450,000
500,001 1,000,000
$128,500+38% of excess over $500,000
$134,900+38% of excess over $500,000
1,000,001 +
$318,500+39% of excess over $1,000,000
$324,900+39% of excess over $1,000,000
Transcribed Image Text:QUESTION 2
Part A
Mr. Anderson (Taxpayer) is a resident of Fiji, working as an accountant for South Green
Limited. The following has been extracted for the year ended 2023:
Annual salary $250,000.00
Mr. Anderson also provides consultancy service to other businesses, from which he earns
$30,000.00.
Note: use the tax table that is provided in the 1 second image as given
Required:
1. Calculate Mr. Anderson's Total income.
2. Calculate Mr. Anderson's PAYE Tax.、
Part B
Mr. Johnson earns a salary of $42,800 in a year. PAYE deducted at $2,100.00.
Calculate tax payable or refund for the year 2023
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