(Assessable Income - Income from various sources)

During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts:

• Net salary (after $18,000 PAYG tax withheld) $55,000

• Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200)

• Unfranked dividend from QQQ Ltd $900

• Net interest received $954 (after $846 no TFN tax withheld)

• Selina had no deductions

• She was covered by private hospital insurance

Required:

Selina’s Calculate taxable income for the 2017/18 tax year.

Calculate Selina’s net tax payable/refundable (including Medicare Levy) for the 2017/18 tax year. Show your workings.