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Taxation Questions
Ms. Ganda was diagnosed to have sexually transmitted disease (STD). Due to this, she decided to terminate her services and resign. Her employer granted her P1,000,000 separation pay.
1) How much is her taxable income?
PROBLEM8 A taxpayer worked as audit manager of a hospital for several years. When he retired at age 60, he received a retirement pay equivalent to two-month salary for every year of service as provided in the hospital BIR-approved retirement plan. The Board of Directors of the hospital felt that the hospital should give the retired employee more than what was provided for in the hospital’s retirement plan in view of his loyalty and invaluable services for several years. Hence, it resolved to pay him a gratuity of P2,000,000 over and above his retirement pay.
2) How much is the taxable income?
1) How much is her taxable income?
PROBLEM8 A taxpayer worked as audit manager of a hospital for several years. When he retired at age 60, he received a retirement pay equivalent to two-month salary for every year of service as provided in the hospital BIR-approved retirement plan. The Board of Directors of the hospital felt that the hospital should give the retired employee more than what was provided for in the hospital’s retirement plan in view of his loyalty and invaluable services for several years. Hence, it resolved to pay him a gratuity of P2,000,000 over and above his retirement pay.
2) How much is the taxable income?
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