Which of the following statements is correct?

Question 8Answer

a.

The amount of income tax payable is calculated by multiplying the taxpayers taxable income by the applicable tax rate and subtracting any tax offsets.

b.

Non-resident individual taxpayers are required to pay Medicare levy of 2% of taxable income.

c.

Statutory income cannot be included as income by statutory provisions.

d.

Non-resident individual taxpayers who do not have private health insurance may be required to pay an additional Medicare levy surcharge.