During the 2021 income year, resident taxpayer Suzy - aged 16 and in full time high school education, earned salary income of $11,000 from her weekend job at McFreddos, and a $4,000 dividend distribution from shares owned by her parents. Suzy had no deductions. Her employer paid $500 PAYG on her behalf.

Required:

Calculate Suzy's tax payable for the 2021 tax year. You must refer to legislation and show the step in workings.

Answer rating: 100% (QA)

To calculate Suzys tax payable for the 2021 tax year we need to consider her salary income dividend income and any applicable tax credits or deduction... View the full answer