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Q1 During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts: Net salary (after $18,000 PAYG tax withheld)

Q1 During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts:

  • Net salary (after $18,000 PAYG tax withheld) $55,000
  • Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200)
  • Unfranked dividend from QQQ Ltd $900
  • Net interest received $954 (after $846 no TFN tax withheld)
  • Selina had no deductions
  • She was covered by private hospital insurance

Required:

  1. Calculate Selina'staxable incomefor the 2017/18 tax year.
  2. Calculate Selina's nettax payable/refundable(including Medicare Levy) for the 2017/18 tax yeas

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