Question: The scenario is for the 2 0 2 3 / 2 4 financial year. You will need to refer to the Australian Taxation Office s

The scenario is for the 2023/24 financial year. You will need to refer to the Australian Taxation Offices (ATOs) website for the tax rates and the medicare levy. Include the URL reference or a screen shot to demonstrate the information you obtained.
FJ Holden sells new cars for a living. She earns $379 per week plus a commission of 2% on properties she sells. In the 2023/24 financial year she sold $2600000 worth of cars. She receives the weekly retainer for 52 weeks of the year.
During the financial year she also made a term deposit of $6000 invested for 9 months at a rate of 2.6% pa compounding monthly.
FJ Holden is paid a petrol allowance of $120 per month.
She has work related travel expenses of $1235 per year.
She has a dependent spouse so is entitled to a tax offset of $690.
She has a $1495 iPad. She estimates she uses it 70% of the time for work purposes. She is able to depreciate the laptop over a three year period using the straight line method and claim the depreciation as a tax deduction. (assume a scrap value of $0)
FJ does not have to pay the Medicare surcharge, only the standard medicare levy.
a) Determine FJs taxable income for the 2023/24 year.
b) Calculate the total tax payable by FJ Holden in the 2023/24 year. Be sure to include the medicare levy.
c) Given that FJs Payment summary already indicates that FJ has paid $9876 in tax, does FJ get a refund or does Stevie have to pay more tax to the government?
d) Next year, FJs boss is altering her work conditions and she wont earn a commission. However, her weekly pay will increase to $790. Will she have to pay more or less tax? What is the percentage tax difference? (Assume all other conditions are the same and use the 2023/24- tax table).

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