Question
Question 1 (10 Marks) Jahid (a mechanic) paid for the following items during the current tax year (2019-2020) and has approached you asking which of
Question 1 (10 Marks)
Jahid (a mechanic) paid for the following items during the current tax year (2019-2020) and has approached you asking which of them are deductible from his salary income. He is a single tax resident for the year:
- Protective shoes and sunglasses with the cost of $600 all together
- Non-compulsory uniforms with the cost of $300
- Compulsory uniforms with the cost of $700
Explain in detail (using a table for all the items above) with relevant tax laws and cases.
Kindly use the four sections below for each case in your table.
- Facts of the scenario
- Relevant laws and cases
- Application of laws and cases
- Conclusion
10 marks
QUESTION 2 - (15 MARKS)
Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the tax payer (Jenny) with information below:
- Jenny is a resident single mom with one dependent child (7 years old) tax payer of Australia for the tax year 2019-2020
- Her Taxable Salary earned is $120,000 (Including tax withheld) having no private health insurance.
- Jenny has a student loan outstanding for his previous studies at Queensland University of $32,000.
- Jennys employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund.
- Jenny earned a passive income of $5,000 from the investments in shares in the same tax year.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started