QUESTION 1 (A) Calculate the net tax payable by the following Australian resident for the your ended 2001. The taxpayer ise with no dependent. She has no prate 10 points hospital cover and an outstanding HELP ability of 516,000 on 30 June 2001 Her 2021 Payment Summary showed Gross salary Reportable Fringe Benefits Total $97.000 Reportable Employer Superannuation Total $5.000 PAYO Deducted $5.500 $34.000 Other relevant items were as follows: Fully franked dividend received $2.750 Net rental property loss (3 800) "The company is isted on the ASX and is NOT a Small Business Taxpayer company (7 marks) (B) Stargate Minerals mines tead and zinc in Broken Hil Very rarely, silver deposits are uncovered during mining and Stargate has a long standing 25 year contract with Silver Bullet Ni, to supply them with a silver extracted. Last year silver production consisted of 5% of all or extracted by Stargate, representing 15 of its totale the current year, Silver Bullet enters into more favourable foreign contracts for her and pays Stargate 3750.000 as compensation for canceting the remaining term of their contract Required: With reference to case law. advise Stargate as to what amount if any of the $750,000 will be assessable income 3 marks) For the toolbar, press ALT F10 (PC) or ALT FNF10 (Mac) BI VS Paragraph Open Sans,.. 2 I. X x X, 811 1 1 2 g (1) . +++ BB - 1 +) + Save Alen Save and sunt QUESTION 1 LA Calculate the nettax payable by the following Australian resident for the younded 2021. The taxpayer is single with a dependents Shortcodes bit of $16.000 on 30 June 2021 Her 2021 Payment Summary showed Orosca Reportable Finge tenette Total 307.000 Reportable Employer SupernationTM 50.000 $5.500 PAYS Deducted $34.000 Other relevant items were as follows Fuly brandende 52.750 Matronal property 0.800 The company isted on the ASX and is NOT a Small Business Taxpayer company 7 marks (0) Stargate Minerals mines iad and zinc in Broken Hel. Very rarely, silver deposits are covered during and starten a long standing Search silver extracted. Last year viver production consisted of of all are extracted by Starter 15 of its total revenue in the current were contracts for silver and Days Stargate $750,000 as compensation for cancer the remaining to the contract Hequired With reference to case wise starate as to what amount. rany, or the $750.000 will be able con markal For the bar, press ALT 10 Pr ALTH Mac BTW 6 Paragraph Open Sans 5) 10pt EEA XQ MTT 11 11 * S2 A D PO (1) med Chek Sound mit Got All Anna QUESTION 1 (A) Calculate the net tax payable by the following Australian resident for the your ended 2001. The taxpayer ise with no dependent. She has no prate 10 points hospital cover and an outstanding HELP ability of 516,000 on 30 June 2001 Her 2021 Payment Summary showed Gross salary Reportable Fringe Benefits Total $97.000 Reportable Employer Superannuation Total $5.000 PAYO Deducted $5.500 $34.000 Other relevant items were as follows: Fully franked dividend received $2.750 Net rental property loss (3 800) "The company is isted on the ASX and is NOT a Small Business Taxpayer company (7 marks) (B) Stargate Minerals mines tead and zinc in Broken Hil Very rarely, silver deposits are uncovered during mining and Stargate has a long standing 25 year contract with Silver Bullet Ni, to supply them with a silver extracted. Last year silver production consisted of 5% of all or extracted by Stargate, representing 15 of its totale the current year, Silver Bullet enters into more favourable foreign contracts for her and pays Stargate 3750.000 as compensation for canceting the remaining term of their contract Required: With reference to case law. advise Stargate as to what amount if any of the $750,000 will be assessable income 3 marks) For the toolbar, press ALT F10 (PC) or ALT FNF10 (Mac) BI VS Paragraph Open Sans,.. 2 I. X x X, 811 1 1 2 g (1) . +++ BB - 1 +) + Save Alen Save and sunt QUESTION 1 LA Calculate the nettax payable by the following Australian resident for the younded 2021. The taxpayer is single with a dependents Shortcodes bit of $16.000 on 30 June 2021 Her 2021 Payment Summary showed Orosca Reportable Finge tenette Total 307.000 Reportable Employer SupernationTM 50.000 $5.500 PAYS Deducted $34.000 Other relevant items were as follows Fuly brandende 52.750 Matronal property 0.800 The company isted on the ASX and is NOT a Small Business Taxpayer company 7 marks (0) Stargate Minerals mines iad and zinc in Broken Hel. Very rarely, silver deposits are covered during and starten a long standing Search silver extracted. Last year viver production consisted of of all are extracted by Starter 15 of its total revenue in the current were contracts for silver and Days Stargate $750,000 as compensation for cancer the remaining to the contract Hequired With reference to case wise starate as to what amount. rany, or the $750.000 will be able con markal For the bar, press ALT 10 Pr ALTH Mac BTW 6 Paragraph Open Sans 5) 10pt EEA XQ MTT 11 11 * S2 A D PO (1) med Chek Sound mit Got All Anna
