Ahmed, an Australian resident, was made redundant on 30th 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 30th June 2020 revealed the following:

Gross wages up to redundancy $65000 (PAYG withheld $18400)

Interest on savings account held jointly with spouse $4200

Genuine redundancy payment $93000

Lump sum received from his superannuation fund:

Taxable component (element taxed in the fund) $372000 (PAYG withheld $26000)

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