John from Sydney decided to retire in Bali some 1.5 years ago, where it is cheaper to live out his retirement. He rents a fairly cheap home on the beach. He comes home to visit his family every 3 months for a fortnight and attends to his medical needs at this time too.

John has been enjoying the Bali sun and lodges his Australian tax return.

Calculate John's basic tax liability for the 2023 income year.

• Australian pension $30,000
• Bali business income $30,000
• Bali Bank interest $2,000
• Australian interest - NAB Bank - $2,000

Answer rating: 100% (QA)

To calculate Johns basic tax liability for the 2023 income year we need to determine his taxable income in Australia Since John is an Australian resid... View the full answer