Jana Sderberg is a tax resident of New Zealand who is employed as a policy analyst by a government agency in Wellington.

In the income year ended 31 March 2024, Jana received the following taxable income:

A gross salary of $130,000 from her job as a policy analyst, with PAYE of $33,820 deducted (net of ACC levies).

A gross dividend of $22,500 from a New Zealand resident company, which was fully imputed. No RWT was withheld on this dividend.

Foreign sourced interest income of $37,500, for which Jana has correctly calculated she is entitled to a foreign tax credit of $3,750.

Jana has therefore correctly calculated her net income for the year ended 31 March 2024 as $190,000. She has not paid any provisional tax for the income year ended 31 March 2024. Jana has losses carried forward from a prior year of $50,000 from a failed partnership venture.

Required

(a) Calculate Jana's terminal tax payable/(refundable) for the income year ended 31 March 2024. Show all workings.

(b) Briefly explain the result of this calculation for Jana.