Question
(AUSTRALIAN TAX) Using the information provided for 2019-2020 financial yearfor an individual taxpayer, complete the relevant income tax return form for the current year of
(AUSTRALIAN TAX)
Using the information provided for 2019-2020 financial yearfor an individual taxpayer, complete the relevant income tax return form for the current year of income. Please use the tax return ATO tax return form for individuals provided.
Other income: - Bank interest: $300 at NAB Hamersley Branch, joint account with his spouse Jenny Bennett - Shares sold during the year: BHP shares at a profit of $2000; Michael elected to apply the 50% discount to his capital gain - Distribution from a property investment trust: $670 - Dividends from Westpac shares held: dividend $200, franking credit $54
Expenditure: - Union subscription: AWU $230 - Laundry expenses $150 - Donations: Red Cross $20, Mission Australia $40
Other information: - John and Jenny have one child. - John incurred $5000 net medical expenses on behalf of himself and his family. The threshold for 2009-10 is $1500.
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