Question
Australian taxation law Question 2 10 Marks Calculate the Medicare levy and Medicare levy surcharge payable for the year ended 30 June 2017 for the
Australian taxation law
Question 2 10 Marks Calculate the Medicare levy and Medicare levy surcharge payable for the year ended 30 June 2017 for the following taxpayers: (a) An Australian resident, aged 28 years, with a taxable income of $21,335. (b) ) An Australian resident, eligible for a Seniors tax offset, with a taxable income of $31,738. (c) An Australian resident, aged 43 years, with a taxable income of $55,000. (d) A taxpayer who is not a resident for tax purposes, with a taxable income of $185,000. 2 (e) An Australian company with a taxable income of $2m. (f) An Australian resident, aged 45 years, with a taxable income of $123,800, holding private health insurance for the year. (g) An Australian resident, aged 45 years, with a taxable income of $120,000, and no private health insurance. (h) An Australian resident with a taxable income of $160,000, holding private health insurance for 90 days of the income year. (i) Victor and his wife are Australian residents. Victor has a taxable income of $105,000 and his wife Jackie a taxable income of $85,000. They have no children and no private health insurance. (j) An Australian couple have four children and no private hospital health insurance. What would be the familys minimum Medicare levy surcharge threshold?
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