Taxation law in the 2019 income tax year, Tim receives a dividend from XYZ Pty Ltd of $7,000 with a franking credit of $3,000 attached. Tim also has a salary of $30,000 and deductions of $2,000. What is Tim's net tax payable for the 2019 income tax year, including the Medicare levy?

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Salary Income 30000 Dividend grossed up 7000100... View the full answer