BASIC:

GROSS COMPENSATION INCOME:

Less: Non-Taxable/Exempt Compensation Income

1. 13th month pay and other benefits MID-YEAR

YEAR-END
PBB
DOUBLE PAY
MONETIZATION
LAUNDRY (excess of 3,600)
de minimis benefit ceiling of 90,000

2. SSS, GSIS, PHIC, HDMF and union dues (employee share) DEDLNR
DEDMED
DEDPAG
x 12mos.

3. Other Non-Taxable salaries (P250,000) CLOTHING

PERA

TOTAL TAXABLE BASIC SALARY

excess of de minimis benefit ceiling
TAXABLE COMPENSATION INCOME

TAX DUE

Less: Tax Withheld (January to November/termination date)

Tax to be withheld for December/last payroll period

Collectible: Tax Due> tax withheld - collect before payment of last salary

Refund: Tax Due< tax withheld - refund on or before January 25th of the year/ last payment of salary

Break even: Tax due = tax withheld - no more withholding for December salary
 45,203.00 546,950.00
666,950.00
181,531.92

45,203.00
45,203.00
21,079.50
0.00
0.00
0.00
111,485.50 90,000.00

4,113.54
914.12
100.00
5,127.66 61,531.92

6,000.00
24,000.00
30,000.00 30,000.00

485,418.08
21,485.50
506,903.58

400,000.00
(less) 106,903.58
30,000.00
26,725.90
56,725.90

45,971.60

10,754.30