Jeremey Renner is an Australian resident and carries a business in Bali  (Indonesia) and Australia. Assume that his Balaneese profits are Aud $30,000 and he paid Aud $3000 for Indonesian tax during the current tax year. Jeremy also earned $30,000 profit from Australia. How much tax is Jeremey required to pay in Australia?

How would you respond if his Indonesian tax payable amount was $9000 and not $3000?

For this scenario, ignore Medicare levy and middle and low-income tax offset. 

Answer rating: 100% (QA)

Calculation of maximum foreign tax offset Step 1 Tax payable on the total income of Jeremey Renner I... View the full answer