Identify the legislation and the number of week's notice that must be given to an employee...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Identify the legislation and the number of week's notice that must be given to an employee when terminating an employee under the age of 45 who has been employed with the business for 4 years? (As a guide your answer should be up to 20 words) 2. Identify the legislation and the number of week's redundancy pay payable to a permanent employee who is made redundant due to a reduction of sales and has been employed with the business for 6 years and 3 months? (As a guide your answer should be up to 20 words ) 3. On 22 November 2020, Christine retired after joining her employer in 1999. Details: • Pay rate is $35 per hour and normal hours are 38 per week. • On retirement, she had 20 hours of annual leave, 275 hours of long service leave and 86 hours of personal leave accrued. Christine is entitled to leave loading. Christine qualified for an early retirement scheme incentive payment of $10,000. The accountant advises that this amount is taxed at 17% which includes Medicare Levy. The TFN has been supplied, she claims the tax-free threshold and has no offsets. • Christine's retirement is classified as a normal termination. Required: Determine Christine's final termination pay in accordance with organisational requirements relevant to employment termination processes and payments. Include your completed template/answer below. Identify the legislation and the number of week's notice that must be given to an employee when terminating an employee under the age of 45 who has been employed with the business for 4 years? (As a guide your answer should be up to 20 words) 2. Identify the legislation and the number of week's redundancy pay payable to a permanent employee who is made redundant due to a reduction of sales and has been employed with the business for 6 years and 3 months? (As a guide your answer should be up to 20 words ) 3. On 22 November 2020, Christine retired after joining her employer in 1999. Details: • Pay rate is $35 per hour and normal hours are 38 per week. • On retirement, she had 20 hours of annual leave, 275 hours of long service leave and 86 hours of personal leave accrued. Christine is entitled to leave loading. Christine qualified for an early retirement scheme incentive payment of $10,000. The accountant advises that this amount is taxed at 17% which includes Medicare Levy. The TFN has been supplied, she claims the tax-free threshold and has no offsets. • Christine's retirement is classified as a normal termination. Required: Determine Christine's final termination pay in accordance with organisational requirements relevant to employment termination processes and payments. Include your completed template/answer below.
Expert Answer:
Answer rating: 100% (QA)
1 In accordance with the Fair Work Act 2009 Australia terminat... View the full answer
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Posted Date:
Students also viewed these accounting questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
From the data below, how much is subject to regular income tax? * Description Interest income on savings deposits in local banks Income from sale of lot held for investment, located IN Compensation...
-
You have just been hired as a loan officer at Fairfield State Bank. Your supervisor has given you a file containing a request from Hedrick Company, a manufacturer of auto components, for a $1,000,000...
-
Selected accounts of Olsevik Janitorial Supplies, at July 31, 2023, are listed in alphabetical order below. For simplicity, all operating expenses are summarized in the Selling Expenses account and...
-
Sumitomo Cable manufactures various types of aluminum and copper cables which it sells directly to retail outlets through its distribution channels. The manufacturing process for producing cables...
-
Mabry Manufacturing Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department D,...
-
When discussing possible purchase of a fixed immediate annuity, not discussing the full range of available annuitization options and the implications of choosing one over another, particularly with...
-
Define the term finance, in your own words. Describe areas in which you currently make financial decisions. Share an example or two of both good and bad financial decisions you have observed. Explain...
-
What effect do Sovereign wealth funds have on the financial market?
-
Define the following type of SALTS: individual income, corporate income, sales, gross receipts, franchise, real property, personal property, unemployment, use, excise, transfer, and severance taxes.
-
On Series EE U.S. savings bonds, what different tax consequences arise from the two choices in reporting interest?
-
How is the accumulated earnings credit determined?
-
George files a separate return. His wifes only source of income is $600 in interest income. Can George receive the benefit for his wife on his separate return?
-
If an expenditure is part business-related and part personal, how does the taxpayer determine the business-related amount that is deductible for tax purposes?
-
AIM: Write a C program to read no 1 to 7 and print relatively day Sunday to Saturday.
-
A manufacturer can sell product 1 at a profit of $20 per unit and product 2 at a profit of $40 per unit. Three units of raw material are needed to manufacture one unit of product 1, and six units of...
-
Multiple Choice Questions The following questions concern quality control standards. Choose the best response. a. A CPA firm is reasonably assured of meeting its responsibility to provide services...
-
Assume a company with the following balance sheet accounts: You are concerned only about overstatements of owner's equity. Set tolerable misstatement for the three relevant accounts such that the...
-
Explain how the rules concerning stock ownership apply to partners and professional staff. Give an example of when stock ownership would be prohibited for each.
-
The Milham Theatre Club has been in existence for a number of years. Members pay an annual subscription of 15 which entitles them to join trips to professional productions at a reduced rate. On 1...
-
The accounting records of the Happy Tickers Sports and Social Club are in a mess. You manage to find the following information to help you prepare the accounts for the year to 31 December 2015. (1)...
-
A business both buys loose tools and also makes some itself. The following data is available concerning the years ended 31 December 2014, 2015 and 2016. You are to draw up the Loose Tools Account for...
Study smarter with the SolutionInn App