AUSTRALIA TAX

Jason Parther has some investments in his own name which was purchased in earlier years ago. Now the due date to pay income taxes is near. He wants you to compute the Net Taxes payable or any refund of Taxes paid / Tax credit allowed. There is an income from dividends (which are fully franked) amounting to $22,000 and had a tax credit of $8,000. There is an income from dividends (which are party franked) amounting to $16,000 and had a tax credit of $1,400. There also some dividends which are unfranked amounting to $20,000. Tax rate for 2017-18.

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