Chopper Aviation have provided the following information for the quarter ending 31st March. Gross Salaries and Wages
Question:
Chopper Aviation have provided the following information for the quarter ending 31st March.
Gross Salaries and Wages including PAYG Withheld = $183,360
Car Allowances (assume: this is the gross amount and it is not subject to PAYG withholding; it has not been included in Gross Salaries & Wages above) = $4502
Bonuses paid grossed $4400; tax on bonuses $920 (both amounts not included above)
PAYG Withheld from salaries and wages = $42,781
Contractor invoices subject to voluntary withholding agreement totaling $15,800; tax withheld at 20%
$901 invoice subject to 47% withholding as the supplier does not hold an ABN.
REQUIRED: a) complete the PAYG tax withheld panel of the Business Activity Statement:
REQUIRED: b) complete the Summary panel extract on the Business Activity Statement:
Note: Chopper Aviation are not registered for Fringe Benefit tax and not currently paying PAYG Instalments.
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill