Ahmed, an Australian resident, was made redundant on 30^th June 2020 at the age of 58. He had been employed at the company for 14 years and 9 months. His taxation records for the year ended 30^th June 2020 revealed the following:

Gross wages up to redundancy$65,000

(PAYG withheld $18,400)

Interest on savings account held jointly with spouse $4,200

Genuine redundancy payment$93,000

Lump sum received from his superannuation fund:

Taxable component (element taxed in the fund)$372,000

(PAYG withheld $26,000)

Ahmed has adequate private health insurance cover for the year.

Required:

For the year ended 30 June 2020, calculate Ahmed's:

(a)taxable income

(b)net tax payable or refundable