HI6028 Taxation Theory, Practice & Law Tutorial Questions

Question 4 (11 marks)

(Note this question is from the Topic 10 Lecture: Taxation of Companies)
Calculate the tax liability for Andre, a single tax resident, receiving $1,000 dividend (80% franked) from a large company, called Margin Pty Ltd, which uses imputation tax system and 30% corporate tax rate. Other income and expenses of Andre are as below:
Employment income $ 63,013 (excluding 16,467 PAYG withholding)
Allowable Deduction of $500
Consider Medicare Levy, Medicare Levy Surcharge (if applicable), and relevant offsets.
(No law sections or cases are required to be included in your answer. Please use a table to answer this question, no decimals are required. Tax year 2019/2020).
(11 marks. Word limit: Minimum of 120 words. Maximum of 150 words)