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In addition to the crypto-activities outlined above, Lan has the following activities relating to her 2022 tax return. Gross Salary of $89,000 relating to her

In addition to the crypto-activities outlined above, Lan has the following activities relating to her 2022 tax return.

  • Gross Salary of $89,000 relating to her employment as a Technology consultant with J&I Consultants, ABN 12 345 678 910. PAYG of $33,000 was withheld.
  • Travel allowance of $10,000 relates to the expectations of her work to meet clients.
  • Interest income of $200 relates to her Australian bank account.
  • Lottery winnings of $12,000.
  • $800 in work-related phone bills that her employer has reimbursed.
  • Employer provided laptop valued at $3,000 that she uses for work purposes.
  • Private health insurance for the full 2022 income year.

Determine Lan's taxable income, basic tax payable and liability to both the Medicare Levy and Medicare Levy surcharge by completing the following question set.

Complete Lan's tax return using the following tax return extract

image text in transcribed

image text in transcribed

1 Salary or wages PAYER's Australian Business Number Tax Withheld $ Income C$ [input] [input] [input] 2 Allowances, earnings tips, director's fees etc Tax Withheld $ Income K$ [input] [input] 5 Australian Government allowances and payments like Newstart, Youth Allowance, JobSeeker and Austudy payments Tax Withheld $ Income A $ [input] [input] TOTAL TAX WITHHELD $[input] 10 Gross interest Tax file number amounts withheld from gross interest M$ Income L$ [input] [input] 18 Capital gains Did you have a capital gains tax event during the year? G No [input] Yes [input] Total current year capital gains H $[input] Net capital losses carried forward to later income years V $[input] Net capital gain A $[input] TAXABLE INCOME OR LOSS $[input] 1 Salary or wages PAYER's Australian Business Number Tax Withheld $ Income C$ [input] [input] [input] 2 Allowances, earnings tips, director's fees etc Tax Withheld $ Income K$ [input] [input] 5 Australian Government allowances and payments like Newstart, Youth Allowance, JobSeeker and Austudy payments Tax Withheld $ Income A $ [input] [input] TOTAL TAX WITHHELD $[input] 10 Gross interest Tax file number amounts withheld from gross interest M$ Income L$ [input] [input] 18 Capital gains Did you have a capital gains tax event during the year? G No [input] Yes [input] Total current year capital gains H $[input] Net capital losses carried forward to later income years V $[input] Net capital gain A $[input] TAXABLE INCOME OR LOSS $[input]

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