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QUESTION 3.7 (Exempt foreign employment income with deductions) Cain Sturrock, a 42-year-old single Australian resident with private health insurance, received the following amounts during the
QUESTION 3.7 (Exempt foreign employment income with deductions) Cain Sturrock, a 42-year-old single Australian resident with private health insurance, received the following amounts during the 2021/22 tax year: Gross Wages - Australia ($5,500 PAYG tax withheld) $ 24,000 Gross Wages - U.S.A. ($14,000 U.S.A. tax deducted) 60,500 Interest (Australian investment) 5,000 Cain had the following deductions during the year: Work related deductions - Australia 200 Work related deductions - U.S.A. 500 Note - Cain's employment in U.S.A. was for a continuous period of 7 months. He was employed as part of an approved overseas project. Calculate Cain's taxable income for the 2021/22 tax year. Calculate net tax payable by Cain for the 2021/22 tax year
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