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This Study Resource Was: AEC 209-Income Taxation
This Study Resource Was: AEC 209-Income Taxation
Problem Solving
Problem 3
A government rank and file employee had the following summary of his compensation
and benefits in 2019.
Gross compensation P 939,000
Employee payroll deduction:
Employee contribution to GSIS,PHIC,HDMF P 72,000
Withholding tax 57,600 129,600
Net regular payroll P810, 000
Representation and transportation allowance 16,200
PERA 21,600
Christmas bonus 78,300
Uniform allowance 10,800
m
Christmas gift 4,500
er as
Honoraria 13,500
co
Total compensation P 954,900
eH w
Required: Compute for taxable compensation income
o.
rs e De Minimis Non- Other Taxable
ou urc
taxable benefits benefits
Regular and supplementary compensation:
Mandatory deductions P 72,000
o
Supplemental compensation
vi re
Honoraria 13,500
RATA 16,200
y
PERA 21,600
Total P0 P 880,500
ed d
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