Question: The following question is based on the material in Chapter 2 of the textbook Prepare Tax Documentation for Individuals: (Assessable Income - Income from various
The following question is based on the material in Chapter 2 of the textbook "Prepare Tax Documentation for Individuals": (Assessable Income - Income from various sources) During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts: Net salary (after $18,000 PAYG tax withheld) $55,000 Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200) Unfranked dividend from QQQ Ltd $900 Net interest received $954 (after $846 no TFN tax withheld) Selina had no deductions She was covered by private hospital insurance Required: Calculate Selina's taxable income for the 2017/18 tax year. Calculate Selina's net tax payable/refundable (including Medicare Levy) for the 2017/18 tax year. Show your workings.
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