Question
Clive Clumsy was injured during his employment, and for the first 10 weeks after the injury he received $400 per week compensation. A Supreme Court
Clive Clumsy was injured during his employment, and for the first 10 weeks after the injury he received $400 per week compensation. A Supreme Court judgment awarded him $71,000 for the injury.
This was made up as follows:
$26,000 being loss of pay of $1,000 per week for 26 weeks to date less the $400 per week for the first 10 weeks already paid.
$5,000 being payment for hospital and medical expenses incurred. $30,000 for reduced working capacity in future.
$10,000 for pain and suffering.
Clive has other income of $12,562.
Calculate his taxable income and net tax payable including Medicare levy.
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