1.
- Doug (resident of Australia) earns $190,000 from his employment as an IT specialist. He has no allowable deductions.
- Doug (resident of Australia) earns $32,500 from his employment as an IT specialist. He has no allowable deductions.
- XYZ Pty Limited (resident of Australia and not an SBE / BRE) has assessable income of $32,500 for the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations referred to above for the year ended 30 June 2019.
2.
- Doug (resident of Australia) earns $190,000 from his employment as an IT specialist. He has no allowable deductions.
- Doug (resident of Australia) earns $32,500 from his employment as an IT specialist. He has no allowable deductions.
- XYZ Pty Limited (resident of Australia and not an SBE / BRE) has assessable income of $32,500 for the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations referred to above for the year ended 30 June 2018.
3.
- Doug earns (non-resident of Australia) $190,000 from his employment as an IT specialist. He has no allowable deductions.
- Doug earns (non-resident of Australia) $32,500 from his employment as an IT specialist. He has no allowable deductions.
- XYZ Pty Limited (non-resident of Australia and not an SBE / BRE) has assessable income of $32,500 for the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations referred to above for the year ended 30 June 2019.
4.
- Doug earns (non-resident of Australia) $190,000 from his employment as an IT specialist. He has no allowable deductions.
- Doug earns (non-resident of Australia) $32,500 from his employment as an IT specialist. He has no allowable deductions.
- XYZ Pty Limited (non-resident of Australia and not an SBE / BRE) has assessable income of $32,500 for the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations referred to above for the year ended 30 June 2016.
5.
Doug, a resident of Australia, receives a $10,000 dividend franked to 100% ($4,285 franking credits). He has also earned bank interest of $1,500 and has allowable deductions of $510 for the year of income.
Required:
Calculate Doug’s net tax payable / refundable that would be assessed in relation to the year ended 30 June 2019.
6.
In addition to his salary of $47,000, Doug receives a $20,000 dividend franked to 50 % ($4,285 franking credits) . Pay As You Go (“PAYG”) of $6,250 was deducted from his salary during the year of income. He was also lucky at Star Casino and won $10,000 at blackjack.
Required:
Calculate Doug’s net tax payable / refundable that would be assessed in relation to the year ended 30 June 2019.
7.
During the year ended 30 June 2019 Jane, a resident taxpayer, received salary and wages income of $86,000 and a franked dividend of $4,800 with $1,200 of attached franking credits. Her employer deducted PAYG instalments of $21,250. She has no dependents and no deductions.
Required:
Calculate Jane’s net tax payable / refundable for the income tax year ended 30 June2019.
8.
During the year ended 30 June 2018 XYZ Pty Limited, a resident Australian private company and not an SBE / BRE, received a franked dividend of $9,800 with $3,200 of attached franking credits. XYZ Pty Limited had allowable interest deductions of $800 for the year ended 30 June 2018.
Required:
Calculate XYZ Pty Limited’s net tax payable or refundable for the income tax year ended 30 June 2018.
9.
During the year ended 30 June 2018 XYZ Pty Limited, a resident Australian private company and not an SBE / BRE, received a franked dividend of $9,800 with $ 3,200 of attached franking credits. XYZ Pty Limited had allowable interest deductions of $3,800 for the year ended 30 June 2018.
Required:
Calculate XYZ Pty Limited’s net tax payable or refundable for the income tax year ended 30 June 2018.
