Lisa has sent through the following information. Can you pull this together with what you have examined
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Lisa has sent through the following information. Can you pull this together with what you have examined already so we can have a tax estimate ready to go.
- Wages (Melbourne employment) - $125,000 net wages, PAYG withheld of $43,000 plus a bonus of $5,000 was paid.
- Wages (Darwin employment) - $25,000 net wages, PAYG withheld of $1,500
- Interest income $1,000
- Allowable general deductions $3,300
- Allowable specific deductions $1,000
- Lisa is single with no private health insurance.
- Lisa has no reportable fringe benefits or reportable superannuation contributions.
Calculate Lisa’s Basic Tax Payable
Calculate Lisa’s Medicare Levy
Calculate Lisa’s Medicare Levy Surcharge
Calculate Lisa’s Net Tax Payable
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-1259569197
8th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip Olds
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