Aleksandr is an international student studying a business degree at Ozford College. He commenced his studies in term 1, 2021. In the 2021/2022 financial year he worked part time as an office assistant at a bank to gain work experience in his chosen career and made $50.000 from that job. Aleksandr also received $10,000 from his parents to assist him with his living expenses, and a $5,000 distribution from a trust account set up by his grandmother of which he paid $1,000 in foreign tax. He spent $30,500 on his studies, $3,000 on a computer and printer for educational purposes, and $1000 on a new mobile which was required for work purposes. He used his phone for personal calls too. 

Calculate Aleksandr's net tax payable for the 2021/2022 financial vear, making reference to the taxation formula, the reasons for including or excluding specific items, your calculations, and the applicable tax law (sections of legislation and/or case law).

 

 

Answer rating: 100% (QA)

To calculate Aleksandrs net tax payable for the 20212022 financial year well need to consider his in... View the full answer