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1 Josh, 48 years old, is a tax resident of Australia. Working as an architect in a consulting firm, Josh earned $135,000 in the last
1 Josh, 48 years old, is a tax resident of Australia. Working as an architect in a consulting firm, Josh earned $135,000 in the last financial year (2020-2021). His employer has withheld $48,000 as part of PAYG withholding tax. Josh has incurred $2,600 as work-related expenses allowable deductions. Josh aims to switch careers to software engineering and enrolled in a related course at UOW. Josh paid $3,500 for the course at UOW. Josh is a beneficiary of his familys trust as part of the trust deed. He has received $24,000 as trust income. Josh had to pay $625 to a registered tax agent for preparing his income tax return. Josh also donated $4,200 to Human Appeal Australia, a registered Not-for-Profit organisation. Being single, Josh holds a partnership business (coffee shop) in the neighbouring suburb and received $34,000 for the 2020-2021 income tax year as partnership income as a sleeping partner. The annual interest expense for the partnership was $12,000. Josh does not maintain private health insurance. Required: Calculate Joshs taxable income and tax payable/refundable for the 2020-21 income tax year
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