Question
Yvette Jankic, a resident single taxpayer aged 31, worked in New Zealand from 1 July 2017 until 15 November 2017 and has provided the following
Yvette Jankic, a resident single taxpayer aged 31, worked in New Zealand from 1 July 2017 until 15 November 2017 and has provided the following information for the 2017/18 tax year:
Receipts | $ |
Interest (net of TFN tax withheld $490) | 510 |
Interest from United Kingdom (net of withholding tax $300) | 2,700 |
Dividend from the U.S. state of Georgia (net of withholding tax $2,100) | 3,900 |
Gross salary – Australian employment (PAYG tax $5,285 withheld) | 21,000 |
Reportable fringe benefit as per PAYG Summary | 6,252 |
Net salary – New Zealand employment (tax withheld $2,540) | 12,650 |
Bonus from Australian Employer for exceptional performance | 2,000 |
Payments | $ |
Interest and Dividend deductions relating to United Kingdom and Georgia investments | 250 |
Work-related deductions relating to Australian employment | 300 |
Note – Yvette does not have private health insurance.
Required:
- Calculate Yvette’s taxable income for the 2017/18 tax year.
- Calculate Yvette’s net tax payable or refundable for the 2017/18 tax year.
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An Introduction To Statistical Methods And Data Analysis
Authors: R. Lyman Ott, Micheal T. Longnecker
7th Edition
1305269470, 978-1305465527, 1305465520, 978-1305269477
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