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Showing all workings, calculate the tax payable/refundable as of 30 June 2021 for an individual with the following attributes: 35 years old. $7,000 fully franked
Showing all workings, calculate the tax payable/refundable as of 30 June 2021 for an individual with the following attributes:
35 years old. $7,000 fully franked dividend income with $3,000 of franking credits. Australian resident for the entire year. No spouse. Earned $25,000 gross from working, with $7,000 withheld. Received a trust distribution from a family trust of $1,000. $300 in work-related deductions.
Please calculate the LMITO, LITO, Medicare and any other relevant tax offsets or levies.
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