Tania is full time student and studied in the university in New England online, her partner has a business in which she has 40% share. Tania's partner is running the business and hired an assistant for the admin work. Tania has following transactions for the 2019/20 tax year: 

1. Interest Income $ 2,500 

2. Gross Wages (tax withheld $900) $10,000 

3. Share of Partnership Net Income $ 38,000 

4. Interest expenses (purchase of partnership) $ 2,000 

5. Work related deductions $ 500 

Calculate tax payable by Tania?

Answer rating: 100% (QA)

To calculate the tax payable by Tania we need to consider her income and deductions for the 201920 t... View the full answer