PROBLEM

Given:
Aga on ferie = 2 times the amount of maximum taxable phone benefit
Pension(OTP) reported = kr 1000,00
Skatteetaten List price of Mercedez Benz (model: CLA 220 Shooting Brake 4MATIC aut) = kr 575.000,00
Ferie is being paid out/released every after payroll

General assumption:
Assume that skatt and aga are being remitted to the govt monthly (every after payroll)
Salary Skatt rate = 30%
Skatt rate on phone benefit = 30%
Skatt rate on benefit of using company car = 10%
Aga = 14.1%

Questions:
1. Fixed salary = ?
2. Monthly taxable benefit in using company car (Mercedez Benz) = ?
3. Maximum taxable phone benefit = ?
4. How much is the employee net pay?
5. Prepare the complete entry:
a Salary Registration Entry
b Phone and Car benefit Entry
c Ferie Payout
d Regisration of invoice and payment to Private Pension Company
e Reported pension
f Aga/Skatt Remittance
g Net Pay transferred to Employee

Please note:
Pension - aga
Phone benefit - aga/skatt
Car benefit - aga/skatt
575.000,00
 Salary Registration Entry
5000
2600
2910

5400
2770

5020
2940

5401
2785

1950
1920
Regisration of invoice and payment to Private Pension Company Reported pension
2640 1000 5420
2400 1000 2640

Phone and Car benefit Entry

2400 1000 5200
1920 1000 5290

5210
5290

Ferie Payout:
2940
2910

2785
2770

Aga/Skatt Remittance
2600
1950

2770
1920

Net Pay
2910
1920
 DR CR Skattetrekk:
istration Entry Payroll 43262.41 30% 12978.723
43,262.41 Phone benefit 366 30% 109.8
14,303.94 Car benefit 12,154.17 10% 1,215.42
28,958.47 Total 14303.9397

8,006.34
8,006.34 AGA
Payroll 43,262.41 14.1% 6,100.00
5,191.49 Car benefit 12,154.17 14.1% 1,713.74
5,191.49 Phone benefit 366.00 14.1% 51.61
Pension 1000 14.1% 141.00
732.00 Total 8,006.34
732.00
Ferie
14,303.94 Salary 43,262.41 12% 5,191.49
14,303.94
Aga on ferie
1,000.00 Ferie 5,191.49 14.1% 732.00
1,000.00

d Car benefit Entry

12,154.17
12,154.17

366
366

5191.49
5191.49

732
732

14,303.94
14,303.94

8,738.34
8,738.34
34,149.96
34,149.96
Taxable benefit amount in using company car

Fixed 308,500.00 30% 92,550.00 Fixed taxable benefit

Excess 266,500.00 20% 53,300.00 Excess taxable benefit
Total List Price 575,000.00 145,850.00 Yearly taxable benefit
1/12
12,154.17 Montly taxable benefit