- 7 Marks
PT – Nov 2019 – L2 – Q3a – Income Tax Liabilities
Computes King Peter’s tax liability on overtime for the months of January and February 2019.
Question
a) King Peter is a Junior Staff member of Sir James Company Limited. His monthly basic salary is GH¢700.00. He was paid overtime totaling GH¢50.00 during the month of January 2019.
Required:
i) Compute his tax liability on overtime for the month of January 2019. (2 marks)
In the month of February 2019, King Peter was paid overtime totaling GH¢500.00.
ii) Compute his tax liability on the overtime payments for the month of February 2019. (3 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Employment Income, Income Tax Computation, Overtime Taxation
- Level: Level 2
- Topic: Income Tax Liabilities
- Series: NOV 2019
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