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During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts: Net salary (after $18,000 PAYG tax withheld) $55,000
During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts:
- Net salary (after $18,000 PAYG tax withheld) $55,000
- Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200)
- Unfranked dividend from QQQ Ltd $900
- Net interest received $954 (after $846 no TFN tax withheld)
- Selina had no deductions
- She was covered by private hospital insurance
Required:
Calculate Selina'staxable incomefor the 2017/18 tax year.
Calculate Selina's nettax payable/refundable(including Medicare Levy) for the 2017/18 tax year.
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