During the year ended 30 June 2021 Preti, a resident taxpayer, received salary and wages income of $86,000 and a franked dividend of $4,800 with $1,200 of attached franking credits. She also has $5,000 of deductible work-related expenses. Her employer deducted PAYG instalments of $14,250. She has no dependents.

Required:

Explain how her net tax to pay or refund will be calculated. (ignore Medicare Levy):

Students must give reasons for their answer. This discussion must include an analysis of the pertinent sections of the relevant legislation, rulings, and the relevant case law. Students must show calculations in detail