Question 1

What is the basic income tax payable for an Australian resident individual with taxable income for the 2021-2022v income year of:

(a) $87,000

(b) $33,000?

(c) $123,000?

Taxable income	Tax on this income
0 $18,200	Nil
$18,201 $45,000	19 cents for each $1 over $18,200
$45,001 $120,000	$5,092 plus 32.5 cents for each $1 over $45,000
$120,001 $180,000	$29,467 plus 37 cents for each $1 over $120,000
$180,001 and over	$51,667 plus 45 cents for each $1 over $180,000

Question 2

Calculate the Medicare levy payable (if any) for the year ending 30 June 2017 on the following amounts for a single Australian resident taxpayer who is not entitled to the seniors and pensioners tax offset:

1. $68,000
2. $15,800
3. $26,000