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How much payg withholding amount

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Jason is a sole trader in the architecture industry. For the year ending 30 June 2019, Jason hired a 3D model designer, Sarah, to help him with the growing business. At the end of the year he has the following information:

Sales revenue: $ 280,000

Wage (Sarah): $ 52,500

Other deductible expenses: $ 112,500

Net income before tax: $ 115,000

Weekly PAYG withholding for Sarah For the week ending on 30 June 2019, using the tax tables published by the ATO, answer the following questions:

a) Sarah worked for 35 hours. Her hourly wage rate is $30/hr. She claims the tax-free threshold. How much PAYG withholding amount should be deducted from her pay for the week?

b) If Sarah discloses that she has an outstanding HELP loan balance, should Jason deduct more from her pay? If so, how much should be deducted for HELP repayment from her pay for the week?

FNSPAY505 - Practical Assessment 24

c) If Sarah's contract gave rise to a reportable fringe benefits of $5,660 for the year, what would be the impact on her HELP repayments?

Reference no: EM133054352

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