During the year ended 30 June 2021 Preti, a resident taxpayer, received salary and wages income of
Question:
During the year ended 30 June 2021 Preti, a resident taxpayer, received salary and wages income of $86,000 and a franked dividend of $4,800 with $1,200 of attached franking credits. She also has $5,000 of deductible work-related expenses. Her employer deducted PAYG installments of $14,250. She has no dependents.
Required:
Explain how her net tax to pay or refund will be calculated. (ignore Medicare Levy): Students must give reasons for their answer. This discussion must include an analysis of the pertinent sections of the relevant legislation, rulings, and the relevant case law. Students must show calculations in detail.
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett