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Miss Russell QC (Queen's Council) is a lawyer by day and a university lecturer by night. She receives salary from the law firm of
Miss Russell QC (Queen's Council) is a lawyer by day and a university lecturer by night. She receives salary from the law firm of S100,000 and salary from the University of $50,000. She is single and has private health insurance from 1 January 2019 to 30 June 2019. During the year Miss Russell had to travel to see clients. She acquired the car on I October 2018 for S60,000. The acquisition cost was funded entirely by a loan at an interest rate of 15%. She has determined that the depreciation deduction on the car would be $2,300 for the year. In addition, Miss Russell incurred the following expenses during the year: Registration and insurance S2,000 Repairs and maintenance $1,000 Oil and fuel costs $1,500 For the period 1 October 2018 to 30 June 2019, Miss Russell estimates the car travelled a total of 15,000 km, 12,000 of which were for business purposes. She kept a logbook of all of her travels. Miss Russell also has mobile phone that she uses only for business purposes. The cost of the phone is S300 per month and she pays this herself. Miss Russell also received S10,000 dividends on the 28 June 2019. These were partially franked to s0%. Calculate Miss Russell's net tax payable as at 30 June 2019.
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