question archive Miranda is an employee of XYZ Corporation, a private enterprise
Miranda is an employee of XYZ Corporation, a private enterprise
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Miranda is an employee of XYZ Corporation, a private enterprise. The following summarizes the benefits of Miranda for the current year:
Company anniversary gift P10,000 Rice subsidy 35,000 Laundry allowance 6,000 Uniform allowance 8,000 Christmas gift 5,000 13" month pay 60,000 CBA incentive 10,000 14" month pay 30,000 Monetized unused sick leave (10 days x P2,000) 20,000 Monetized unused vacation leave (5 days x P2,000) 10,000
1. Compute the total non-taxable de minimis benefits
P84,000
P68,600
P63,600
P58,600
2. Compute the taxable 13th month pay and other benefits
a. P135,400
b. P104,000
c. P45,400
d. P25,400
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