Carlos is a resident citizen. He maintains a savings account deposit with the BPI-Baguio City Branch. For the current year, his savings earned a total of P6,000 interest. How much is the final tax on said income? *
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-  SEARCH  ASK CHAT Question Carlos is a resident citizen. He maintains a savings account deposit with the BPI-Baguio City Branch. For the current year, his savings earned a total of P6,000 interest. How much is the final tax on said income? a. P300 b. P720 c. P1,200 d. P1,500Rodrigo, a non-resident citizen, deposited his $2,000,000 savings in a 2- year time deposit in Blue Bank, a depositary bank under the expanded foreign currency deposit system. The deposit pays 8% annual interest. Compute the final tax to be withheld in dollars in the first year. O $0 O $24,000 O $64,000 $80,000Davide made a $25,000 Registered Retirement Savings Plan (RRSP) contribution at his bank. He is a resident of Quebec and in the highest tax bracket at 53.31%. How much of a refund can Davide expect to receive for making this contribution? A $13,328 $25,000 C $11,673 $15,786 E RRSP's are similar to Tax-Free Savings Accounts (TFSA's) and are not tax deductible, no refund is expected
- Nicanor, a resident citizen residing in Sampaloc, Manila, deposited $2,000 in BPI, Morayta Branch, a local bank authorized by the Banko Sentral ng Pilipinas (BSP) to engage in foreign-currency denominated transactions, given by his mother, Helen, an OFW, residing in Saudi Arabia. S1: If the deposited money earns $20 interest income, the interest income is subject to 15% final tax. S2: If the deposited money earns P1,000 interest income, the interest income is subject to 20% final tax. Group of answer choices a. Only S1 is true b. Only S2 is true c. Both are true d. Both are falseDavide made a $25,000 Registered Retirement Savings Plan (RRSP) contribution at his bank. He is a resident of Quebec and in the highest tax bracket at 53.31%. How much of a refund can Davide expect to receive for making this contribution? A $13,328 В $25,000 C $11,673 D $15,786 E RRSP's are similar to Tax-Free Savings Accounts (TFSA's) and are not tax deductible, no refund is expectedHayden Co, a resident citizen, earned the following interest income gross of applicable taxes: Interest income from PNB, a domestic bank P 40,000 Interest income from SVB, a domestic bank* 30,000 Interest income from THE, a non-resident foreign bank* 20,000 Interest income from XHE, a resident foreign bank* 10,000 *in Philippine Peso…
- During the current year, Seth, a self-employed individual, paid the following taxes: Federal income tax $15,000 State income tax $6,500 Real estate taxes on land in South America (held as an investment) $700 State sales taxes 300 Personal property taxes based upon value $1,600 Federal self-employment tax $ 800 What amount can Seth claim as an itemized deduction for taxes paid during the current year? a.$9,100 b.$10,000 c.$9,900 d.$8,800 e.None of these choices are correct.Accounting Gary wants you to calculate his personal income tax liability. He is a tax resident of Australia. During the year ended 30 June 2022 he received the following: Gross salary and wages of $138,000. His employer deducted from his salary PAYGW tax of $22,523. Interest income of $678 from the ANZ Bank Interest of $32 from the BNZ Bank in New Zealand. The $32 is after the New Zealnd Tax Authorities deducted withholding tax of $5.2O. A dividend of $156 from Rio Tinto. He also spent $250 on text books for his work as an IT engineer. He does not have private hospital cover. Required: Calculate his taxable income and his total tax payable for the year ended 30 June 2022.The following interest income are earned by May during the year: a. Interest income earned from bank deposits in the Philippines, P80,000 b. Interest income earned from trade receivables, P20,000 c. Interest income earned from FCDU, P75,000 d. Interest income from government bonds, P40,000 e. Interest income earned from loans to friends abroad, P30,000. 1. If May is a resident citizen, how much is her income subject to final tax? a. P175,000 b. P155,000 c. P195,000 d. P125,000 2. If May is a resident alien, how much is her income subject to basic income tax? a. P90,000 b. P20,000 c. P50,000 d. P60,000 3. If May is a resident alien, how much is her final income tax? a. P11,250 b. P16,000 c. P31,250 d. P27,250
- es Chuck, a single taxpayer, earns $77,800 in taxable income and $11,500 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.) Required: a. How much federal tax will he owe? b. What is his average tax rate? c. What is his effective tax rate? d. What is his current marginal tax rate? Complete this question by entering your answers in the tabs below. Required A Required B Federal tax Required C How much federal tax will he owe? Note: Do not round intermediate calculations. Round "Federal tax" to nearest whole dollar amount. $ Required D 12,424Diosdado Gomez, Jr. is a non-resident citizen taxpayer. He has the following interest income for the year 2019: Interest income - BDO Philippines 120,000 Interest income - Bank of China 250,000 Interest income received by a taxpayer from a depository bank under FCDS, Philippines 80,000 1. How much is the Final Withholding Tax on interest income of taxpayer from BDO Philippines? 2. How much is the Final Withholding Tax on interest income of taxpayer from Bank of China? 3. How much is the Final Withholding Tax on interest income received by a taxpayer from a depository bank under FCDS, Philippines? 4. How much of the total interest income of Mr. Gomez is subject to the Final withholding Tax? 5. How much is the total Final Withholding Tax of the taxpayer for the year 2019?Using the TRAIN ACT TAX CODE below how much annual tax will be paid by Juan who earns Php. 45,000 a month and had a monthly contributions of the following: GSIS