Paul and Tom have four children, Chris (aged 25), Jamie (aged 23), Tanya (aged 18), and Chloe
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6. QUESTION 3 (Part B) How many children will Paul include in Item IT8 of the tax return?
7. QUESTION THREE (Part C) How much Medicare levy (basic Medicare levy, not including the surcharge) does Paul need to pay?
8. QUESTION THREE (Part D) How much Medicare levy (basic Medicare levy, not including the surcharge) will Tom pay?
10. QUESTION FOUR Graham and Lynda are married and have no children. Graham receives a pension from the Department of Veterans Affairs. He is a Gold Card holder and has a statement saying he is entitled to a Medicare levy exemption. Graham is lodging a tax return for the 2022 year, but Lynda is not, as her income is below the tax-free threshold. Will Graham be entitled to a Medicare levy exemption?
11. QUESTION FIVE Kayla and David have been living in a de facto relationship since 12 January 2022. Kayla has a 4-year-old daughter from a previous relationship. Neither Kayla nor David has private hospital cover, however, David has ancillary cover for himself only. David's taxable income is $97,000 Kayla's taxable income is $85,000. Neither of them has an RFBA, RESC, or a rental loss. QUESTION SEVEN (Part A) What tax claim code will David use in the private health insurance policy details section of the tax return?
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12. QUESTION SEVEN (Part B) What will David pay for Medicare levy and Medicare levy surcharge for the 2022 year?
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13. QUESTION EIGHT Dianne is single and has no children. She lived in Australia all her life until 12 November 2021, when she left permanently to live in the United Kingdom (becoming a foreign resident for tax purposes). Dianne does not have private hospital cover. Her income for the 2022 year was: $85,000 Australian Wages (earned from 1 July 2021 to 12 November 2021) $65,000 Foreign wages (earned from 13 November 2021 to 30 June 2022) Dianne has no other income or deductions. QUESTION EIGHT (Part A) What will Dianne enter at Item M1, labels V and W on the tax return?
14. QUESTION EIGHT (Part B) What will Dianne enter at Item M2 labels E and A on the tax return?
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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