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This case applies to the next few questions Jane is an Australian resident for tax purpose. She works at a global financial service firm as

This case applies to the next few questions

Jane is an Australian resident for tax purpose. She works at a global financial service firm as an investment analyst. During the 2020-2021 financial year. Jane has:

  • received $64235 of salary as an analyst
  • received $25189 of rent from an investment property
  • received $3357 in lottery winnings
  • sold some of her listed shares for $30,000, she bought the shares 7 months ago for investment purposes at $20,000
  • received a $385 gift voucher on her birthday from her family
  • received $7000 fully franked dividend from her shares investment
  • spent $28293 on interest expense toward her investment property mortgage
  • spent $1187 on the CFA examination as the designation is required by her employer
  • spent $1102 on suits for work
  • spend $2654 on gym and sports club membership fee for her personal interest
  • * Use the relevant tax tables applicable to the relevant year in the case

Please calculate Janes Tax Payable Excluding Medicare Levy and tax offsets ?

Select one:

a.

$14,695

b.

$17,695

c.

$13,615

d.

$12,369

e.

None of the above

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