Taxation+Assignment.docx - NAME QUEEN IDA OPOKU MENSAH COURSE TAXATION ACF 358 INDEX NUMBER 6575316 CLASS PART TIME ASSIGNMENT MR BENKUTA Year of

Taxation+Assignment.docx - NAME QUEEN IDA OPOKU MENSAH...

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NAME : QUEEN IDA OPOKU MENSAH COURSE : TAXATION ACF 358 INDEX NUMBER : 6575316 CLASS : PART TIME ASSIGNMENT MR. BENKUTA Year of Assessment 2010(1/1/10-31/10/10) GH¢ GH¢ GH¢ Employments: Salary 14000 Inconvenience allowance 3500 Risk allowance 9000 Entertainment allowance 5400 Total cash emoluments 31900 Add: Rent element (10%) 3190 Care element (10%) 3190 6830 Assessable Income 38280 Business Income Net Profit (loss) (800) Add back: IRS quarterly stickers 1250 Tips 2150 Fines 900 Depreciation 1950 6250 5450 Less: capital allowance 2850 2600 Total Assessable Income 40880
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Less Reliefs: S.S. Social Security (5.5% of 14000) 770 Life Policy 3000 Marriage Relief 35 3805 Chargeable Income 37075 TAX COMPUTATION-2010 Amount Rate Tax GH¢ % GH¢ Chargeable Income 37075 First (1008) nil 0 36067 Next (240) 5 12 35827 Next (720) 10 72 35107 Next (14232) 17.5 2490.60 20875 25 5218.75 7793.35 Less: sticker tax (1250) Tax liability 6543.25 Year of Assessment 2011 and 2012 GH¢ GH¢ Total Assessable Income 40880 Less: Reliefs Social Security (5.5% of 14000) 770 Life Policy 3000
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Marriage Relief 100 3870 Chargeable Income 37010 TAX COMPUTATION-2011 Amount Rate Tax GH¢ % GH¢ Chargeable Income 37010 First (1200) nil 0 35810 Next (420) 5 21 35390 Next (1104) 10 110.40 34286 Next (23196) 17.5 4059.20 11090 25 2772.50 6963.20 Less: sticker tax (1250) Tax liability 5713.20 TAX COMPUTATION-2012 Amount Rate Tax GH¢ % GH¢ Chargeable Income
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  • Fall '18
  • kwame bempong

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