Ta.x law

Ordinary Income 1. Johnson is a cricketer. He works for west union club and has received an annual salary. He also earns bonus for every match he plays. In 2015/16 income year, he earned salary of $60,000 and bonus of $30,000. He has a private hospital cover. Required: Tax payable (income tax and medicare levy (2% on total taxable income when taxable income is of $26,668 and over) 0 -$18.200 Nil $18.201 -537,000 19c for each $1 over $18,200 $37,001 - $80,000 $3,572 plus 32.5c for each $1 over $37,000 $80,001 -$180,000 $17,547 plus 37c for each $1 over $80,000 $180,001 and over $54,547 plus 45c for each $1 over $180,000