Question
Lisa is single, and lives in Perth, Western Australia. Lisa has the following for the 30 June 2020 tax year: -Earned a salary of $60,000
Lisa is single, and lives in Perth, Western Australia. Lisa has the following for the 30 June 2020 tax year:
-Earned a salary of $60,000 from her employer Lazy Pty Ltd. Lazy Pty Ltd makes beds and Lisa is the Sales Manager
-Received a Christmas gift from her employer. The gift was a hamper that included a pillow and linen. The invoice amount would be $50
-Received a gift from a Snooze.com (a client of Lazy Pty Ltd.) The gift was a $10,000 gift voucher to be used in their online store because of consulting services Lisa provided to management
-A bank term deposit she invested 10 years ago has matured. She received $60,000 that she deposited and $6,000 for interest. She plans on spending this money on a brand new BMW that she will mainly use for travelling to and from work
-She loves the Casino and made $5,000 playing a card game
-She has a rental property and total rent for the year was $40,000
-Lazy Pty Ltd paid for her gym membership, the total value being $2,000 for the year
During the course of the same year, she had deductible expenses of $5,000, a tax offset of $15,000 and a HELP debt of $25,000. Lisa currently has private healthcare at a cost of $250 per month with FBH Ltd that began on the 1 January 2019.
Required: Calculate total tax payable and write your answer in the space provided.
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