Sarah, a resident taxpayer, provides the following information in relation to the year ended 30 June 2020:
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Question:
Sarah, a resident taxpayer, provides the following information in relation to the year ended 30 June 2020:
- Gross salary $75,000 (PAYG $18,000)
- Bonus from employer $2,500
- Interest received $350
- Deductible home office expenses $400
- Sarah is single and has private health insurance
Based on the above information calculate the tax payable or refundable (including any levies payable and/or tax offsets) for Sarah for the year ended 30 June 2020:
Select one:
a. $10,977.25 payable.
b. $812.75 refundable.
c. $18,000.00 refund.
d. $16,718.25 payable.
e. $267.25 payable.
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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