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Ryan Small aged 30 and single, provided the following details for the year ended 30 June, 2017. Ryan derives income from his employment as a

Ryan Small aged 30 and single, provided the following details for the year ended 30 June, 2017. Ryan derives income from his employment as a bus driver and some investments. Ryan has no private health insurance.

Receipts

Legacy from his uncle's estate

$ 3,000

Fully franked dividend from F/S Ltd-amount received

3,300

70% franked dividend from Fl Ltd-amount received

2,900

Unfranked dividend from Back Ltd

1,750

Gross wages (PAYG tax withheld $20,500)

78,800

Bank interest (net of $97 TFN tax withheld)

103

Honorarium for duties as president of the swim club

350

Insurance lump sum compensation (for damage to back sustained in car accident)

12,000

Army Reserve payments for part time services

1,200

Expenses (All fully substantiated)

Purchase of compulsory uniform

480

Laundry of uniform (estimate)

75

Parking fees (Ryan drives his car to the bus depot)

440

Sunglasses used for driving

150

Investment journals

230

Ryan has a HELP liability of $6,600. The repayment rate is 8%.

During the year Ryan received an Australian Government Disaster Recovery Payment.

Required:

  1. Calculate Ryan's taxable income and tax payable for the year ended 30 June 2017.

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