3 Mike purchased a yacht for $500,000 eight years ago, and now the property is worth $1,100,000. What annual rate of return did he earn on your yacht?

For the following calculate the tax payable using the 2017-2018 tax rates: Taxable income Tax on this income 0 - $18,200 Nil $18,201 - $37,000 19c for each $1 over $18,200 $37,001 - $87,000 $3,572 plus 32.5c for each $1 over $37,000 $87,001 - $180,000 $19,822 plus 37c for each $1 over $87,000 $180,001 and over $54,232 plus 45c for each $1 over $180,000 + (i) Taxable income of $59,000 (ii) Assessable income $182,500 and allowable deductions of $34,000