Assessment 2 – record payroll data, prepare payroll, handle payroll enquiries

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Assessment 2 – record payroll data, prepare payroll, handle payroll enquiries

Assessment 2 – record payroll data, prepare payroll, handle payroll

Week 7

Part A

1)

Monthly gross salary is:

40,560 / 12 = 3380

With tax-free threshold is 442 and without tax free threshold is 962

That means that new salary after PAYG Withholds is:

40,560 – (442 x 12)

40560 – 5304 = 35256

2)

3)

$350

0

$490

$1005

$510

4)

a.

b.

Normal rate = 7+7.5+4+7

= 25.5

125% rate= 7

150% rate = 4

25.5 x 22.50 = $573.75

7 x 22.50 x 1.25 = $196.875

4 x 22.50 x 1.50 = 135

Total = $905.625

5.

Mary will have 0 superannuation because Your employer must pay 9.5% of the value of your ‘ordinary time earnings’ into your super fund if You’re over 18 and earn more than $450 before tax in a calendar month. So if Mary did not earn more than $450. There is no superannuation.

6.

She cannot do this. He does not have the authority to agree to this because this would affect the amount of tax that she must pay.

The process is

Collect the time sheets

Enter the time sheets

Enter payroll changes

Checking payroll

7.

a. N

b. N

c. Y

d. Y

......

Assessment 2 – record payroll data, prepare payroll, handle payroll enquiries
Last updated: Feb 2024

Page 1

d. Y

e. N

f. N

Part b

Employee name peter smith

Hour rate $20

Calculate peter’s payment for the month

1 week = 160 + 160 +160 + 240 + 320

= $1040

1 month = 1040 x 4 = $4160

Calculate how much superannuation

Superannuation rate = 9.5%

4160 X 0.095 = $395.2

Peter has to contribute $395.2 to superannuation each month

Employee name Tina Walker

Hour rate $22

Calculate peter’s payment for the month

1 week = 176 + 176 +176 +176 +176

= $880

1 month = 880 x 4 = $3520

Calculate how much superannuation

Superannuation rate = 9.5%

$3520 X 0.095 = $334.4

Peter has to contribute $334.4 to superannuation each month

Employer name: john smith

ABN: 43243242

Employees name: Mary

Employment status: full time

Hourly rate 22.50 annual salary = 36225

Entitlements

Cheque

Date = todays date

Pay = Mary

Amount = seven hundred dollars and eighty five cents

$700.85

...

Assessment 2 – record payroll data, prepare payroll, handle payroll enquiries
Last updated: Feb 2024

Page 2

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