a. b. C. d. Jess is 28 and works 4 days a week in a costume...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
a. b. C. d. Jess is 28 and works 4 days a week in a costume shop Her employer contributes the standard superannuation guarantee amount into her nominated superannuation fund Jess does not salary sacrifice into superannuation but her employer is happy to organize is happy to organize this if she wants Jess has also been very successful in attracting a lot of contract costume work. Last year, Jess earned $20,000 more than the threshold at which the 37% marginal tax rate commences. She was annoyed that she lost $7,400 in tax on this income. This year, she is determined not to let this happen and has decided to salary sacrifice into superannuation . The problem is that her income level fluctuates so much she is not sure how to organize this. What advice can you give Jess with respect to the concessional contribution limit? self-employed as a self-employed person in a personal concessional Does Jess need to qualify as a order to be allowed to make contribution to superannuation ? Jessis able to estimate the minimum amount she is likely to earn this financial year (say $10,000 more than the 37% tax threshold ), how can you build a salary sacrifice strategy around this ? How much pre-tax earnings does Jess need to set aside to make post -tax contributions that would achieve the a. b. C. d. Jess is 28 and works 4 days a week in a costume shop Her employer contributes the standard superannuation guarantee amount into her nominated superannuation fund Jess does not salary sacrifice into superannuation but her employer is happy to organize is happy to organize this if she wants Jess has also been very successful in attracting a lot of contract costume work. Last year, Jess earned $20,000 more than the threshold at which the 37% marginal tax rate commences. She was annoyed that she lost $7,400 in tax on this income. This year, she is determined not to let this happen and has decided to salary sacrifice into superannuation . The problem is that her income level fluctuates so much she is not sure how to organize this. What advice can you give Jess with respect to the concessional contribution limit? self-employed as a self-employed person in a personal concessional Does Jess need to qualify as a order to be allowed to make contribution to superannuation ? Jessis able to estimate the minimum amount she is likely to earn this financial year (say $10,000 more than the 37% tax threshold ), how can you build a salary sacrifice strategy around this ? How much pre-tax earnings does Jess need to set aside to make post -tax contributions that would achieve the
Expert Answer:
Answer rating: 100% (QA)
a Jess should be aware of the concessional contribution limit which is currently set at 27500 per ye... View the full answer
Related Book For
Applied Statistics And Probability For Engineers
ISBN: 9781118539712
6th Edition
Authors: Douglas C. Montgomery, George C. Runger
Posted Date:
Students also viewed these accounting questions
-
What advice can you give to RR's technical team on their approach of migrating the legacy system to the SAP software?
-
Find the best alternative using incremental IRR analysis. A B D Initial cost $2000 4000 5000 3000 Annual benefit 800 1300 500 400 Salvage value 1400 2000 1500 3000 Life, in years 6 4 MARR required 6%...
-
1. What advice can you offer business owners when banks refuse their loan applications? 2. Assume the role of consultant to Joe Jackson, owner of Jackson Pianos. What advice can you offer him about...
-
Happy Hands Company has net profit margin 5.51%, total assets turnover 0.63, and equity multiplier 2.77. What is its return on shareholder equity (ROE) using DuPont analysis method
-
Rocky Mountain Interiors deposits all cash receipts each Wednesday and Friday in a night depository after banking hours. The data required to reconcile the bank statement as of May 31 have been taken...
-
Sally loves her new Aqualand swimming pool. Unfortunately, the pool ladder is too high so if someone slides down head first they will likely receive injuries to head and their neck and in some cases,...
-
In a transactional data, what is the effect of aggregating similar items into a broader product category? a. Item granularity does not matter as one can simply adjust the minimum support threshold....
-
Overhead variances, service sector Meals on Wheels (MOW) operate a meal home-delivery service agreements with 20 restaurants to pick up and deliver meals to customers who phone or fax to MOW. MOW...
-
Perform an economic analysis studying impacts of Covid-19 on health or health care. For the research bibliography, we need to provide ten (or more) complete research citations. Majority of citations...
-
Table 1.0: List Price, Sale Price and Days to Sell ApartmentsBlue Apartments Red ApartmentsList Price Sale Price Days to Sell List Price Sale Price Days to Sell1 495.0 475.0 130 217.0 217.0 1822...
-
Please use ?Chick-fil-A? to answer the questions in full detail listed below. Chick-fil-A?s target marketing strategy, marketing mix, product, place/distribution, promotion and price. V Marketing...
-
Suppose you have $1,000.00 and face two alternatives: 1. Put the money in an interest-bearing account that pays 0.5% monthly. This account is secured against bank failure. 2. Hold the money in cash....
-
In a certain city of several million people, 5 . 2 % of the adults are unemployed. If a random sample of 2 5 5 adults in this city is selected, approximate the probability that at least 1 5 in the...
-
You have invested $100,000 in a badly built house. For $20,000 invested today, you can fix up the house and sell it 1 year from today for $90,000. As an alterna- tive, you can sell the house today...
-
Is "word of mouth" marketing really valuable? Explain. Please include at least 2 examples illustrating the value of "word of mouth" marketing (examples may be personal examples or published examples).
-
Described below are four situations, which have arisen at four unrelated audit clients of your firm. The year end for each client is 31 August 2019. (a) Daston Sdn. Bhd. (Daston) During the external...
-
What was the average rate of inflation over the period of 2000-2016? 2000 -9.10 2001 -11.89 2002 -22.10 2003 28.68 2004 10.88 2005 2006 15.79 2007 5.49 2008 -37.00 4.91 2009 26.46 2010 15.06 2011...
-
The tractor is used to lift the 150-kg load B with the 24-mlong rope, boom, and pulley system. If the tractor travels to the right at a constant speed of 4 m/s, determine the tension in the rope when...
-
An article in Electronic Packaging and Production (2002, Vol. 42) considered the effect of X-ray inspection of integrated circuits. The rads (radiation dose) were studied as a function of current (in...
-
Reconsider Exercise 15-2 in which the specification limits are 14.50 ± 0.50. (a) What conclusions can you draw about the ability of the process to operate within these limits? Estimate the...
-
An engineering statistics class has 40 students; 60% are electrical engineering majors, 10% are industrial engineering majors, and 30% are mechanical engineering majors. A sample of four students is...
-
Determine an expansion for the work done in a steady flow adiabatic process.
-
5 m 3 of gas at 8 bar and 180C is heated keeping the pressure same till the volume is doubled. Calculate (a) heat added, (b) external work done, and (c) change in internal energy during the process.
-
A heat engine receives 1000 kW of heat at constant temperature of 285C and rejects heat at 5C . The possible heat rejected are: (a) 840 kW, (b) 442 kW and (c) 300 kW. Comment on the results.
Study smarter with the SolutionInn App