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Question 2 (Use chapter 3 of PoTL 2019) In this question, you only have to write down your final answers. You do not have to
Question 2 (Use chapter 3 of PoTL 2019) In this question, you only have to write down your final answers. You do not have to show calculations and provide reasons for your answers. On that basis, what are the answers to: 2.1 PoTL 2019 end of chapter question 3.3(b), assuming the taxpayer is 35 years old. 2.2 PoTL 2019 end of chapter question 3.7. 2.3 PoTL 2019 end of chapter question 3.9 3.7 Acme Pty Ltd has determined that its assessable income for the year is $100,000 and it has deductions of $30,000. What is Acme's tax payable for the 2018-19 income year? Assume that Acme's turnover is in excess of $50 million. 3.8 Jacqueline is an Australian resident for income tax purposes. She has taxable income of $77,000. She has been provided with a receipt for an expense in the amount of $1,000. This expense will constitute a deduction. How much tax will Jacqueline save for the 2018-19 income year as a result of the deduction? Following on from 3.8, Jacqueline has a HELP debt of $25,000. How much of the HELP debt would she be required to repay for the 2018-19 income year? 3.9 Calculate the Medicare levy payable (if any) for the year ending 30 June 2019 on the following amounts for a single Australian resident taxpayer who is not entitled to the SAPTO (assume the same "threshold amount" and "phase-in limit" as for the 2017-18 income year): (a) $15,000 (b) $23,000 (c) $40,000 3.3
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