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any answers will be rated immediately :) 23. The following table sets out the tax rates for Australian resident individuals for the financial year ended
any answers will be rated immediately :)
23. The following table sets out the tax rates for Australian resident individuals for the financial year ended 30 June 2019. Taxable income SO - $18,200 $18,201 $37.000 $37,001 $87,000 $87,001 - $180,000 Over $180000 Tax on this Income NIL 19 cents for each Slover S18,200 $3,572 plus 32.5cents on each dollar over $37,000 $20,797 plus 37 cents on each dollar over $87,000 $54,097 plus 45 cents on each dollar over $180000 Excluding dividends and share transactions, Ranjit's income for the 2018-19 financial year was $88,200. He received a fully franked dividend of 21 cents per share on his holding of 10,000 shares in National Brakes Ltd (NBL) and an unfranked dividend of 7 cents per share on his holding of 6000 shares in Rockhampton Bank Ltd. Calculate Ranjit's tax payable. Show all calculations. (6 marks) Step by Step Solution
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