Question
Assessable Income is 49963.29 Deductions is 3051.64 Net Taxable Income is 46911.65 Tax on Taxable Income is 5092+32.5%*(46911.29-45000) = 5713.28 Less Non-REfundable Tax Offset (Franking
Assessable Income is 49963.29
Deductions is 3051.64
Net Taxable Income is 46911.65
Tax on Taxable Income is 5092+32.5%*(46911.29-45000) = 5713.28
Less Non-REfundable Tax Offset (Franking Credit) 214.29
=5498.99
Calcuate the Medicare Levy + Medicare Levy Surcharge.
The person has private health insurance.
what is the REfundable tax offset, tax credit?
PAYG Tax withheld is $12504
what is refund due ?
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Accounting Information Systems
Authors: Pat Wheeler, Ulric J Gelinas, Richard B Dull
9th Edition
0538469315, 9780538469319
