ACCY963 Tutorial Solutions 6rate but no Medicare Levy is imposed as the taxable income is less than the singlethreshold Based on the trust deed and the proportionate approach Bamfords Case thetrustee of the Svik family trust is assessed as followsTaxable Income 13 x 29857 9952Gross tax payable at div 6AA rates 45 4478Less share of imputation credit s 20750 1biii 28613 x 857Tax payable by the Trustee of Svik family trust 4192 2 James Svik Is a beneficiary that is presently entitled and not under any legaldisability He receives 9952 and is assessed on this amount under ITAA 1936 s 97James is assessed as followsTaxable Income 10952Gross tax payable at 30 June 2021 0Less share of imputation credit s 207501biii 28613 x 857Net amount refundable imputation credit only 2863 Mandy Svik is taxed in the same manner as James Svik Her income of 9952 is less than the taxfree threshold and would claim animputation credit distributed equally on the basis of the proportionate approach SeeBamfords Case