Part A: Taxable income calculation

Ryan is a single $26-$year$-$old resident with no dependants. During the $2022/23$ income year, Ryan earned $$88,000$ in salary, from which his employer withheld tax of $$22,256$ under the PAYG Withholding system. Ryan has a reportable fringe benefits total of $$4,717$ for the year.

Ryan$$s bank statement shows he earned $$230$ interest during the year.

Ryan has a rental property that he purchased with his sister, financing his half share of the property$$s purchase price with a bank loan. The rent from the property for the year totalled $$26,240,$ and deductible expenditure totalled $$6,890.$ Ryan$$s interest costs on his bank loan amounted to $$15,860$ for the year.

Ryan received a fully franked dividend of $$375$ during the year, which had $$160\mathrm{.}71$ of franking credits allocated to it $($franking credit amount$).$ Ryan knows from past experience that the correct treatment of franked dividends is to include both the cash amount of the dividend and the franking credit amount in his assessable income. Ryan will then be entitled to a franking credit tax offset equal to the franking credit amount.

Ryan sold some shares during the year and made a net capital gain of $$2,324.$

During the year, Ryan incurred $$800$ of deductible work$-$related expenses, and he paid $$360$ to a registered tax agent for preparation of his $2021/22$ income tax return.

Ryan won $$1,400$ from a LotteryWest Lotto slikpik entry during the year. He also made a $$150$ tax deductible donation to a registered charity.

Task:

Using the above information, prepare a statement of Ryan$$s taxable income for the $2022/23$ income year.

$($B$)$The following information is for the $2022/23$ income year. Unless stated otherwise, the taxpayers are single individuals with no dependants, and they do not have private health insurance.

Alex $($aged $70)$ has taxable income of $$21,580.$ Included in this amount is a fully franked dividend of $$425,$ which had $$182\mathrm{.}14$ of franking credits allocated to it $($franking credit amount$).$

Blake $($aged $19)$ has taxable income of $$26,370.$ Included in this amount is salary income, from which Blake$$s employer withheld $$2,028$ in tax under the PAYG Withholding system $($PAYG tax withheld$).$ Blake also has a TFN Withholding tax amount of $$145\mathrm{.}70$ as he had not provided the bank with his tax file number.

Casey $($aged $26)$ has taxable income of $$61,700$ and a PAYG tax withheld amount of $$13,572.$ She has an outstanding HELP debt of $$14,762.$

Dylan $($aged $32)$ has taxable income of $$85,600.$ The PAYG tax withheld from his salary totalled $$19,500.$ He has reportable superannuation contributions of $$2,520$ and a reportable fringe benefits total of $$3,962.$

Emerson $($aged $29)$ has taxable income of $$98,500,$ a PAYG tax withheld amount of $$27,768,$ and reportable superannuation contributions of $$8,200.$ She has an outstanding HELP debt of $$6,724.$ Emerson has comprehensive private health insurance with a registered health insurance provider, which costs her $$165$ per month. Emerson has not claimed any private health insurance rebate as a reduction to the cost of her policy.

Task:

Using the information provided for each taxpayer, calculate their income tax liability $($amount owing or refund due$)$ for the $2022/23$ income year.