Q19.11.15

(Variousoffsets-refundableandnon-refundabletaxoffsets)

Meghan Royal, is a resident taxpayer aged 57, had the following transactions for the 2017/18 taxyear:

RECEIPTS

Income Stream Benefit from a taxed superannuationfund

(no PAYG tax waswithheld)

$17,000

Gross Wages (PAYG tax withheld$1,500)

22,000

Fully FrankedDividends

4,900

PAYMENTS

Private Health Insurance (reduced premium nottaken)

3,000

Meghan did not have anydeductions.

Meghan also wholly maintained her father Phillip for the whole year. Phillip did not have any adjusted taxable income and was not eligible for any governmentpensions.

Required:

a.Calculate Meghan's taxable income and

b.Net tax payable for the 2017/18taxyear.