2007 Basic Course Chapter 14 Question 1
Front page
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Item number |
Amount |
Code |
Notes and
calculations |
|
Income |
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|
14 |
32060 |
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Assessable income |
32060 |
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Deductions |
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Total deductions |
0 |
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Taxable income |
32060 |
|
Assessable income MINUS Total deductions |
|
Tax offsets |
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|
T14K |
67032 |
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T14N |
32060 |
S |
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Total tax offsets |
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Other |
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M2 |
N 365 days |
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Taxpayer's name Harry SPINELLI |
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Taxable income
32060
Threshold 6000 |
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||||
Basic
tax payable
|
|
4968.00 |
Notes and
calculations |
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Tax
offsets
|
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Entrepreneurs |
395.85 |
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Low income |
317.60 |
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MINUS total |
713.45 |
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Subtotal |
4254.55 |
Must not be less than zero |
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Levies
etc
|
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Medicare levy |
480.90 |
32060 x 1.5% |
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Medicare surcharge |
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HELP |
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SFSS |
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PLUS total |
480.90 |
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Tax
credits
|
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TIDs (PAYG withholding) |
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Franking credits |
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TFN tax |
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Foreign tax credit |
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PAYG instalment credit |
6000 |
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Private health ins offset |
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Baby bonus |
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Other |
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MINUS total |
6000.00 |
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balance
payable or
refund due |
|
1264.55 |
REFUND |
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