Question
b) Wilson is a single resident taxpayer, had a taxable income of $65,500. PAYG tax withheld from Wilsons gross wages was $9,000. Note that ~
b) Wilson is a single resident taxpayer, had a taxable income of $65,500. PAYG tax withheld from Wilsons gross wages was $9,000. Note that ~ Taxpayers, who earn over $26,668/year, pay a Medicare Levy of 2% of their taxable income. Required: Calculate Wilsons tax payable or refund for 2020/2021. Taxable Income Tax on This Income 0 to $18,200 Nil $18,201 to $37,000 19c for each $1 over $18,200 $37,001 to $80,000 $3,572 plus 32.5c for each $1 over $37,000 $80,001 to $180,000 $17,547 plus 37c for each $1 over $80,000 $180,001 and over $54,547 plus 47c for each $1 over $180,000
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