Question
During the 2021 income year, resident taxpayer Suzy - aged 16 and in full time high school education, earned salary income of $11,000 from her
During the 2021 income year, resident taxpayer Suzy - aged 16 and in full time high school education, earned salary income of $11,000 from her weekend job at McFreddos, and a $4,000 dividend distribution from shares owned by her parents. Suzy had no deductions. Her employer paid $500 PAYG on her behalf.
Required:
Calculate Suzy's tax payable for the 2021 tax year. You must refer to legislation and show the step in workings.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate Suzys tax payable for the 2021 tax year we need to consider her salary income dividend income and any applicable tax credits or deduction...
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Step: 2
Step: 3
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
