Thomas (aged 31 years) is an Australian resident for tax purposes. Thomas does not have aspouse or any dependents and he does have private health insurance. information relevant toThomas's income tax payable or refundable for the 2023 tax year is: 。Taxable Income (already calculated):$154.000 Included in taxable income was a fully franked dividend of $2,000 。Reportable fringe beneht: $13,300 Reportable superannuation contribution: $7,000 .Net investment loss of rental property: $5,000 .Thomas's employer paid $55,080 pay as you go withholding tax to the ATO. .Superannuation guarantee payment of $16,800 to Thomas' superannuation fund. Required: Q13. Determine Thomas's income tax payable or refundable for the year ended 30 June 2023Show all calculations and reference relevant sections of the lTAAs, relevant case law or rulingsfrom the Australian Taxation Ofhce.

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Calculation of Thomass income tax payable or refundable for the year ended 30 June 2023 Calculation of Tax on Taxable Income Thomass taxable income is ... View the full answer