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Question 29 10 points SAVE ANSWER Jamee is a resident taxpayer with no dependents and has the required medical insurance. For the year ended 30
Question 29 10 points SAVE ANSWER Jamee is a resident taxpayer with no dependents and has the required medical insurance. For the year ended 30 June 2021 he received: Gross salary of $102,000 from which PAYG of $30,000 had been withheld. Net interest of $745 after TFN withholding tax of $715 had been withheld. In September 2020 Jamee received $1,100 as his share in the winnings from a punters club with his work colleagues. In January 2021 he received a holiday valued at $3,400 from his employer for achieving the highest sales in the previous year. In June 2021, Jamee's employer announced that he would be giving Jamee a pay rise effective from 1 April 2021. He is therefore to receive backpay of $5,000 of which $3,000 will be paid on 27June 2021 and the remaining $2,000 will be paid on 4 July 2021. Dividend of $12,000 deposited to his bank account in May 2021 in respect of a 70% franked Australian dividend (company tax rate 30%) Net rental income from a holiday home in Fiji of $5,000 a. Advise Jamee how each payment would be treated, provide relevant section, case law and other supporting evidence (5 marks) b. Calculate Jamee's assessable income and net tax payable including medicare levy for the current year ended 30 June 2021 (5 marks) In the answer box below, write the letter and your answer. e.g. a. Your
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