Question
Kristen quit her full-time job with Telstra one year ago and enrolled full-time in a Bachelor of Biomedical Science. Kristen has a part-time job working
Kristen quit her full-time job with Telstra one year ago and enrolled full-time in a Bachelor of Biomedical Science. Kristen has a part-time job working eight hours per week at a local Wilston coffee shop
Kristen’s assessable income for the 2021 income year consisted of gross wages totaling $14,160 (this amount includes PAYG withholding tax of $1,452 deducted) and interest income of $34 from her Westpac savings account. Kristen also received a fully franked dividend of $112 from Myer Holdings Ltd during the 2021 income year. The company tax rate in respect of this dividend was 30%. Kristen has no other assessable or exempt income, no reportable fringe benefits, and no reportable employer superannuation contributions. Kristen incurred allowable deductions of $66 in relation to her salary and wage income.
What is her taxable income?
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Kristens taxable income is 14160 34 112 14306 EXPLANATION Kristen...Get Instant Access to Expert-Tailored Solutions
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