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- Meryam Ahmed has net tax owing for 2016 of $5,000, net tax owing for 2017 of $8,000 and estimated net tax owing for 2018 of $6,500. If she wishes to pay using the Canada Revenue Agency's instalment payment calculation, what would be her payment be on September 15, 2018? a) $1250 Ob) $1625 c) $2000 d) $2750For the tax year 2023/24 Jane has employment income of £47,570, savings income of £1758 and dividends of £3588. What is her tax liability for the year? Enter a whole number, without the £ sign, in the response box.Jenny received a gross salary of £50,000 in 2022/23. She also received interest income of £1,000 and dividends of £5,000. On 10 September 2023 Jenny submitted her self-assessment tax return for 2022/23. Select the correct time limits that apply in relation to Jenny's self-assessment return for 2022/23.
- A taxpayer filed his income tax return in October 28, 2018. The deadline for the return was April 15, 2022. If he has P40,000 net tax due, compute the penalties in the form of interest. What is the total surcharge penalty? P0 P10,000 P8,000 P20,000 add explanation thankssssMs. White has net tax owing for 2017 of $4,500, net tax owing for 2018 of $8,000, and estimated net tax owing for 2019 of $7,500. If she wishes to pay the minimum total amount of instalments for the 2019 taxation year, her first payment on March 15 will be for what amount? Nil. $1,125.00 $1,875.00 $2,000.00Seun started his self-employment on 1 July 2020, he prepared the first period of accounts to 31 December 2021. What tax year will be his first tax year? 2020/2021 2021/2022 2019/2020 2022/2023
- Miss Mazibuko’s assessment for the year ended 28 February 2021 shows a taxable income of R 120 000. The 2021 assessment was received at the end of January 2022 and the 2022 assessment has not been issued by SARS. She provided you with a payslip which indicates employees’ tax withheld by her employer of R 4 000. Her income is estimated to be R 100 000 for the 2023 year of assessment. Calculate the first provisional tax payment that she needs to make to SARS for the 2023 year of assessment. (NB: No spaces, no Rand sign required and round off to the nearest Rand if applicable).ments and provides you with the following information: 2018 2019 2020 2021 Annual tax liability $31,000 $32,000 Est $35,000 Est. $37,000 Annual tax withheld $27,000 $30,000 Est $31,000 Advise Michelle as to her instalment payment options for 2021 the minimum payment amount when instalment payments are due how much tax would have to be withheld in 2021 to avoid liability for instalment payments?Jane received bank interest of £3000 during the tax year 2020/21. Requirement: Calculate Jane’s Income tax liability assuming she also had employment income £29,000 in the tax year 2020/21
- A taxpayer received a notice from the BIR to file his 2019 income tax return not later than January 15, 2021. The tax due per his return is P80,000. How much is the surcharge penalty? a. P9,600 b. P20,000 c. P40,000 d. P16,000 e. Answer not givenIncome Tax Credits (LO. 6) Refer to Exhibit 8-5 and 8A-1 SCHEDULE EIC (EARNED INCOME CREDIT) 2018 EARNED INCOME CREDIT TABLE to answer the following questions. Determine the total allowable 2018 earned income credit in each of the following situations: a. Rina is single and earns $6,800 in salary for the year. In addition, she receives $2,200 in unemployment compensation during the year. b. C. Lachlan is single with one dependent child. During the year, he earns $8,000 as a waiter and receives alimony of $10,000 and child support of $5,000. Zorica is a single parent with two dependent children. She earns $19,000 from her job as a mechanic. She also receives $3,000 in child support from her ex-husband. d. Elliot and Pam are married and have three dependent children. Elliot and Pam earn $12,000 and $9,000 from their jobs, respectively. They receive $800 in interest and $1,000 in dividend income. Assume the taxpayer files a joint return.Jacob earned employment income of £34250 and receive dividends of £17500 outside of an ISA in the tax year 2019/20. PAYE of £3680 was paid in respect of employment income. Requirement: Calculate Jacob’s tax liability for tax year 2019/20.
