Reference no: EM133147873
Question - Jackie is a rank-and-file employee for two concurrent employers for 2022. She earned the following for the whole year: [Refer to the figure]. Both employers only withheld the income tax applicable to the benefits they provided.
Employer A
Gross monthly basic pay - 33,000
Mandatory deductions - 5% of the gross basic pay
Holiday pay - 5,000
Monthly rice subsidy - 2,500
Collective bargaining agreement benefit - 25,000
Employer B
Gross monthly basic pay - 28,000
Mandatory deductions - 7% of the gross basic pay
Overtime pay - 10,000
Uniform allowance - 10,000
Actual medical assistance - 15,000
Required - What amount should be reflected on Item 28 on the applicable annual income tax return?