Final answer:
The term for remuneration subject to tax deductions at source is withholding tax, which includes income tax and contributions to social security and insurance. Payroll taxes are split between the employer and the employee, but the employer's share may indirectly reduce employees' wages.
Step-by-step explanation:
The term for remuneration subject to tax deductions at source in the context of payroll is generally referred to as withholding tax, pay-as-you-earn tax (PAYE), or pay-as-you-go tax (PAYG). These deducted amounts include advance payment of income tax, social security contributions, and various insurance premiums. Payroll taxes are split between the employer and the employee, with the latter typically seeing 6.2% deducted from their paycheck for Social Security and 1.45% for Medicare. It is important to note, however, that the employer's share of the taxes might be passed on to employees in the form of lower wages. For independent contractors, such as those in the gig economy who receive a 1099 tax statement, they are responsible for paying both the employee and employer sides of the payroll tax.