Solution-What amount should be reflected on item

What amount should be reflected on item

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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?

Reference no: EM133147873

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What amount should be reflected on item

Reference no: EM133147873

Reference no: EM133147873

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