TAXABLE BENEFITS

EXEMPTOTHERSREGULAR

REGULAR BENEFITS

Basic Pay XXXXXXXX

Over-time Pay XXXXXXXX

Holiday Pay XXXXXXXX

Night Shift Differential Pay XXXXXXXX

Hazard Pay XXXXXXXX

Other Regular Benefits XXXXXXXX

13th Month PayXXXXXXXX

OTHER BENEFITS

De Minimis Benefits XXXXXXXX XXXXXXXX

Non-De Minimis Benefits XXXXXXXX

TOTAL XXXXXXXX

Less: EXEMPTION 30,000.00

TAXABLE XXXXXXXX XXXXXXXX

GTCI XXXXXXXX

NOTES: Basic Pay is reported net of exclusion (see discussions). 13th Month Pay, while a regular benefit is under the column taxable other benefits (see discussions). De Minimis Benefits are exmept from Income tax but the excess over the limit are taxable other benefits (see discussions). Allow the exemption of P30,000 for other benefits and 13th month pay (see discussions).