During the year ended $30$ June $2019$ Michael, a resident taxpayer, received salary and wages income

of $$26,000$ and a franked dividend of $$9,800$ with $$4,200$ of attached franking credits. He also had tax

instalments $($PAYG$)$ withheld from his salary and wages income of $$4,000.$ He has no dependents and

no deductions. His net tax to pay or his refund due $($ignore Medicare levy$)$ when his assessment issues

will be:

Taxable Income $26000+9800+4200=40,000$

Basic Income Tax Liability $($BITL$)$ Res FY$20194,547$

Low Income Tax Offset $445$ reduced to $-400$

Low and Middle Income Tax Offset increased to $-480$

Franking Tax Offset Refundable $-4,200$

PAYG $($W$)$ Refundable $-4,000$

Net Tax Payable $/$ Refundable

Answer: $-4533$

How the answer is $-4533?$ it's showing other answer in chegg