Unused Annual Leave (post 17/8/93) $6,800 Taxable Income ????? Severance Payment (including $31255 PAYG tax withheld) $167,000

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Unused Annual Leave (post 17/8/93)	$6,800		Taxable Income	?????
Severance Payment (including $31255 PAYG tax withheld)	$167,000		Tax on Taxable Income	????
Reportable Fringe Benefit (the club allowed Sid to keep some air tickets)	$9,300		Life Benefit ETP Tax Offset	????
Gross salary during the year up until the date of termination (PAYG tax withheld 41000)	$120000		Medicare Levy	????
No private health insurance, no dependent children			Surcharge	????
Sid Gallen is a single resident taxpayer aged 59. It was mutually agreed that his appointment as head coach of the Lesser Eastern Sydney AFL team would be terminated. On termination, Sid received the above mentioned. Work out the columns on the right.			PAYG Tax Withheld	$ 72,255.00
			Tax payable	????
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Related Book For answer-question

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Income Tax Fundamentals 2013

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Mar 21, 2024 03:54 AM

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