Part A William Braveheart is a single Australian Resident taxpayer, had a taxable income of $103,000. PAYG tax withheld from Williams gross wages was $24,500. Note that Australian Taxpayers, who earn over $26,668/year, pay a Medicare Levy of 2% of their taxable income.

Eequired: Calculate Williams tax payable or refund for 2020/2021, show working. (10 marks)

Taxable Income Tax on This Income

$0 to $18,200 Nil

$18,201 to $37,000 19c for each $1 over $18,200

$37,001 to $80,000 $3,572 plus 32.5c for each $1 over $37,000

$80,001 to $180,000 $17,547 plus 37c for each $1 over $80,000

$180,001 and over $54,547 plus 47c for each $1 over $180,000