Question:
Ms. Lisa Mark has been employed with PwC Consulting since January 2000. She earns a base salary of K1,200 per fortnight. Ms. Mark retired from her position at the end of December 2023 due to reaching the retirement age. She submitted a tax declaration form claiming two dependents. Her final payment includes: Accrued annual leave payment for 4 fortnights amounting to K4,800. Ex Gratia payment of K15,000. Payment in lieu of notices for 2 fortnights totalling K2,400.
Superannuation payment: Accrued prior to January 1, 1993 - K8,500.00 Accrued after January 1, 1993 - K120,000.00 Of the superannuation payment, 80% comprises the employer and interest components. Required: Calculate Ms. Lisa Mark's final payment and total tax payable. ​