Question: In the current income year, Angelo earned $50,000 in basic wages from a single employer. He also received overtime payments of $10,000 and a reasonable

In the current income year, Angelo earned $50,000 in basic wages from a single employer. He also received overtime payments of $10,000 and a reasonable car allowance of $8,000. His employer only makes the mandatory SG contribution to Angelo’s complying super fund.

  1. a). How much is the employer’s super contributions this year and how much of this is deductible to the employer.
  2. b). By how much will Angelo’s super balance increase?
  3. c). If Angelo also made a $5,000 non-concessional personal contribution, how much will his super balance increase?
  4. d). If Angelo also had part-time job with another employer and earning basic salary of $400 per month, how much will this employer’s SG contribution be to Angelo’s account?

Step by Step Solution

3.32 Rating (152 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

i Employer Super Contribution 95 of 50000 4750 Assumed ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!