Stephanie and David are a married couple who have investments in Australia and overseas.

During the year ended 30 June 2023 they generated the following gross income:

1) Gross rent from home in Greece $90,000 ($15,000 Greek tax withheld)

2) Gross rent from home in Italy $80,000 ($12,000 Italian tax withheld)

3) Gross rent from home in Homebush NSW $50,000

During the year ended 30 June 2023 they incurred the following expenses:

- Greece home deductible expenses of $4,0002)

- Italian home deductible expenses of $3,4003)

- Homebush NSW home deductible expenses of $6,0004)

- Accounting fees of $1,500 each for Stephanie and David

The properties are owned as joint tenants and therefore they share the net income on a 50:50 basis.

Both Stephanie and David have no other income and have private health insurance.

REQUIRED

Calculate the net tax payable for the year ended 30 June 2023for Stephanie.

Answer rating: 100% (QA)

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