Question
Harry has assessable income of $200,000, John has assessable income of $60,000 and Simy has assessable income of $40,000. They have deductible expenses of $10,000
Harry has assessable income of $200,000, John has assessable income of $60,000 and Simy has assessable income of $40,000. They have deductible expenses of $10,000 and no tax offsets. They are resident of Australia for income tax purposes.
Required
a) Calculate Australian resident individual income tax.
b) Now assume that they have $10,000 of tax offsets. Now calculate the income tax.
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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
