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Trinh is an Australian individual resident taxpayer and she has been on a career break backpacking in Europe for the last 11 months. In June
Trinh is an Australian individual resident taxpayer and she has been on a career break backpacking in Europe for the last 11 months. In June 2023, Trinh began working for Yellow Limited (Yellow), a resident company listed on the Australian Securities Exchange. For the income year ended 30 June 2023, Trinh had the following transactions: 1. She received a salary totalling $15,000 (excluding superannuation). 2. She received a $3,500 dividend from Min Limited (Min), franked to 10%. Min has a corporate tax rate of 30% for imputation purposes. 3. She paid $500 to her accountant, who is a registered tax agent, to prepare her personal tax return for the previous income year. 4. She won $3,000 from gambling at a casino on a social night out with work colleagues. Trinh has carried forward tax losses of $10,000. Trinh has Australian private health insurance for the entire year. Assume Trinh is not entitled to the low income tax offset and has no other transactions relevant to the income year ended 30 June 2023.
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