Question
Claudia is self-employed and earns $190,000 p.a. If she makes a tax deductible (concessional) contribution to superannuation of $15,000, will she save tax and if
Claudia is self-employed and earns $190,000 p.a. If she makes a tax deductible (concessional) contribution to superannuation of $15,000, will she save tax and if so, how much? Exclude Medicare Levy/ Surcharge in your calculations. For this question you will need to: a. Calculate the tax payable by Claudia assuming no superannuation contribution (6 marks) b. Calculate the total tax payable on the superannuation contribution and income tax, should Claudia make a superannuation contribution. (6 marks) c. Compare the difference between tax payable on her income without a contribution to superannuation versus total tax payable on her income and the superannuation contribution, compared to devise whether there will be a tax saving and how much. (3 marks)
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