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Compensation Income and Benefits Analysis

This document contains information about compensation income, benefits, and tax calculations for 3 individuals - Jimenez (Sections 3.3 and 3.4), an unnamed individual (Section 3.5), and tax calculations for 6 scenarios (Section 3.6). It provides details of compensation, monthly allowances, bonuses, and tax exempt benefits for each individual. Section 3.6 shows calculations to determine taxable income for the scenarios at different income levels.

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Ross John Jimenez
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312 views2 pages

Compensation Income and Benefits Analysis

This document contains information about compensation income, benefits, and tax calculations for 3 individuals - Jimenez (Sections 3.3 and 3.4), an unnamed individual (Section 3.5), and tax calculations for 6 scenarios (Section 3.6). It provides details of compensation, monthly allowances, bonuses, and tax exempt benefits for each individual. Section 3.6 shows calculations to determine taxable income for the scenarios at different income levels.

Uploaded by

Ross John Jimenez
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

NAME: Jimenez, Ross John C.

Year-Course-Section: 3-BSMA-A

CHAPTER 3 ASSIGNMENT

3.3
Compensation income P 900,000
Monthly transportation allowance 36,000
De Minimis Other
Benefits Benefits
13th month pay - P 75,000
Christmas bonus (P5,000 de minimis under RR 1-2015) 5,000 20,000
Productivity incentive pay (de minimis under RR 1-2015) 10,000 -
Uniform allowance (15,000 - 5,000) 5,000 10,000
Medical allowance (entire amount is de minimis) 10,000 -
Rice subsidy [24,000-(1,500 x 12)] 24,000 12,000
13th Month Pay & Other Benefits 117,000
Tax Exempt (90,000) 27,000
Taxable net income P 963,000

3.4
Compensation income P 900,000
Monthly transportation allowance 36,000
De Minimis Other
Benefits Benefits
13th month pay - P 75,000
Christmas bonus (P5,000 de minimis under RR 1-2015) 5,000 20,000
Productivity incentive pay - 20,000
Uniform allowance (15,000 - 5,000) 5,000 10,000
Medical allowance (entire amount is de minimis) 10,000 -
Rice subsidy [24,000-(1,500 x 12)] 24,000 12,000
13th Month Pay & Other Benefits 137,000
Tax Exempt (90,000) 47, 000
Taxable net income P 983,000

3.5
Compensation income P 540,000
De Minimis Other
Benefits Benefits
13th month pay - P 45,000
Mid-year bonus - 22,500
Christmas gift P 5,000 5,000
Uniform allowance (7,500 – 6,000) 6,000 1,500
Actual Medical allowance (15,000 – 10,000) 10,000 5,000
Medical allowance to dependents 2,000 -
Rice subsidy (entire amount is de minimis) 18,000 -
Monetized vacation leave [24,000-(2,000x 10)] 20,000 4,000
13th Month Pay & Other Benefits 83,000
Tax Exempt (90,000) -
Taxable net income P 540,000
3.6
1.
a. P165,000 x 50% = P82,500
b. P82,500/65% x 35% = P44,423

2.
a. P4,500,000 x 5% /4 x 50% = P28,125
b. P28,125/65% x 35% = P15,144

3.
a. P5,000,000
b. P5,000,000/65% x 35% = P2,692,308

4.
a. P1,200,000
b. P1,200,000/65% x 35% = P646,154

5.
a. P800,000
b. P800,000/65% x 35% = P430,769

6.
a. P1,200,000/5 = P240,000
b. P240,000/65% x 35% = P129,230

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