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Prepare tax documentation for individuals Shane is an Australian resident for tax purposes. During the year he derived gross business income of $152,200 and had

Prepare tax documentation for individuals

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Shane is an Australian resident for tax purposes. During the year he derived gross business income of $152,200 and had business deductions of $87,000 (PAYG Instalments paid $15, 100), $8,600 interest from an overseas bank account, net of $3,400 tax, and rent of $18,000 from a property in UK which he owns, net of $6,500 tax. He has adequate private health insurance. Required: For the year ended 30 June 2020, calculate Shane's: a) taxable income b) net tax payable or refundable

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