Question
(Application of Medicare Levy using family thresholds) Required: For each taxpayer, calculate their liability for Medicare Levy. The following persons are resident taxpayers who are
(Application of Medicare Levy using family thresholds)
Required: For each taxpayer, calculate their liability for Medicare Levy.
The following persons are resident taxpayers who are not liable for the Medicare Levy Surcharge. The information given relates to the 2016/17 tax year:
a.Glenn derived taxable income of $22,000 and his wife Rowena derived taxable income of $6,000. They do not have any children.
b.Kath derived taxable income of $41,000 and her husband Fred derived taxable income of $18,000. They have three dependent children.
c.Beck derived taxable income of $29,000 and her de facto partner Roy derived taxable income $40,000. They have four dependent children.
d.Will derived taxable income of $36,000 and his wife Tina derived taxable income of $22,000. They have two dependent children.
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