Question
Returns required for lodgement - The following information relates to transactions during the 2017/18 tax year: (A)Al Basic, an Australian resident aged 30, received a
Returns required for lodgement - The following information relates to transactions during the 2017/18 tax year:
(A)Al Basic, an Australian resident aged 30, received a gross salary of $50,000 and had no otherincome or deductions. Al does not use the services of a Registered Tax Agent.
(B) Brianna Minor, an Australian resident aged 15, received interest on an investment given toher by her parents amounting to $750. She had no other income or deductions and doesnot use the services of a Registered Tax Agent.
(C) Drew Toomuch, an Australian resident aged 39, derived net business losses of $15,000. He has no other income or deductions and uses the services of a Registered Tax Agent.
(D)Fritz Watson, an Australian resident aged 19, received gross wages of $11,100 ($500 PAYGtax withheld).Fritz did not have any other income or deductions and does not use theservices of a Registered Tax agent.
Required: For each taxpayer state whether or not they are required to lodge an income tax return for the2017/18 tax year and if so, when the return must be lodged.
Answer it like this -
Name Required To Lodge? (Y/N) (Include Brief Comment/Notes To Support Your View) If Yes, Due By Date Is Al Basic I Brianna Minor Drew Toomuch Fritz Watson
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