QUESTION 2.7  (Interest income)

The following resident taxpayers received interest from a range of transactions:

• . Tennille received $9,600from the maturityof a term deposit. The capital sum was $9,000 and the interest componentwas $600.
• . Sam and Pam are credited with a total of $800 for intereston their joint savings account.
• . Bernice received an amountof $1,484 interest.This amount is net of

$1,316 of tax, which was deducted for not providinga tax file number.

• . Amy received interest of $2,700 from an account held in Hong long. This amount is net of $300 withholding tax.
• . Max has an amount of $70 from the ATO being interestcredited to his 2O2O/21 income tax assessment for overpayment of tax.
• . Hank, a business taxpayer, received an amount of $400 interest on a loan he has provided to his employee.

 

Indicate any amounts from these transactions that is assessable income.