EDITH COWAN UNIVERSITY INCOME TAX FRAMEWORK II LAW2410 TUTORIAL PAPER NO. 1 1/2018 QUESTION 1 Peter, who is single, will derive $95,000 of assessable income and will be entitled to $25,000 deductions during the current income year. He has made an advance payment of $2,000 to the Australian Taxation Office for the current income year He has private health insurance cover. Calculate Peter's tax liability (or tax refund), including Medicare levy (f applicable), for the current income year. (Assume that Peter is not entitled to any rebate/offset). QUESTION 2 Martha, who is single, will derive $100,000 of assessable income and will be entitled to $25,000 deductions during the current income year She has made an advance payment of $20,000 to the Australian Taxation Office for the current income year. She has private health insurance cover. Calculate Martha's tax liability (or tax refund), including Medicare levy (if applicable), for the current income year. (Assume that Martha is not entitled to any rebate/offset). Will your answer be different if she has $120,000 of taxable income and has not made any advance payment to the Australian Taxation Office for the current income year