Question: Marsha Stewart is an employee at a basic school. During the year 2015, she received the following from her employment and other sources. A. Salary

Marsha Stewart is an employee at a basic school. During the year 2015, she received the following from her employment and other sources.

A. Salary $708000 per annum. (PAYE of $3650 deducted at source monthly)

B. Marsha received dividends from Jamaica Teas, a company that is traded on the Jamaica Stock Exchange. She received $51000 et of tax

C. Marsha is 69 years old and is in receipt of $150000 per annum from an approved pension scheme.

D. Marsha has other investments including a time deposit at Jamaica National which paid interest of $30000 (net).

Required: Determine Marsha Stewart's taxable income and income tax liability for the year of assessment 2015 writing appropriate notes. Show all workings.

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