Call Now: (+61) 416-195-006
QUESTION 2 - (15 MARKS)
Version a)
Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the tax payer (Judy) with information below:
Judy is a resident married, with no children, tax payer of Australia for the tax year 2019-2020
Her Taxable Salary earned is $100,000 while her husband’s taxable income for the same year is $150,000 (Including tax withheld) both having no private health insurance.
Judy has a student loan outstanding for her previous studies at University Technology Sydney of $80,000.
Judy’s and her husband’s employers pay superannuation guarantee charge of 9.5% on top of their salary to their nominated funds.
Judy earned a passive income of $20,000 from the investments in shares in the same tax year.
Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the tax payer (Judy) with information below:
Judy is a resident married, with no children, tax payer of Australia for the tax year 2019-2020
Her Taxable Salary earned is $100,000 while her husband’s taxable income for the same year is $150,000 (Including tax withheld) both having no private health insurance.
Judy has a student loan outstanding for her previous studies at University Technology Sydney of $80,000.
Judy’s and her husband’s employers pay superannuation guarantee charge of 9.5% on top of their salary to their nominated funds.
Judy earned a passive income of $20,000 from the investments in shares in the same tax year.
Expert's Answer
Chat with our Experts
Want to contact us directly? No Problem. We are always here for you
