Mrs A , a single mum with two children, would like you to assist her to prepare her tax return for the 30 June 2021
Mrs A, a single mum with two children, would like you to assist her to prepare her tax return for the 30 June 2021 tax year.
She has presented you with the following list of items.
Payment summary from Company B - 95671
Payment Summary for casual work from Company C - 47305
Payment for attending a casual work conference - 5836
Reimbursement for expenses at the casual work conference - 2000
State lottery winnings - 1000
Net capital gain on shares sold during the year - 7964
Dividends received - 5058
Compensation for loss of wages due to an injury at her casual job 1000
Interest from a bank term deposit - 1000
Money from selling eggs that her chickens laid to her friends - 500
General work deductions - 10000
Deductions that are not allowed for tax purposes - 5000
She had private insurance from 1 January 2021 and a HELP debt of $20,000.
Requirement: Please calculate her taxable income and tax payable. Please show all workings
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