2007 Basic Course Chapter 1 Question 3

Front page postal address should be PO box.

Filling out the I Form

Item number	Amount	Code	Notes and calculations
Income
99 888 777 666 1	4064 18337
98 765 432 123 1	1519 10822
2	348		175+125+48 Allowances are written at item 2
3R	834	R	Note that lump sum D is not written anywhere on the
total tax withheld	5583		I form
Assessable income	30341
Deductions
Total deductions
Taxable income			Assessable income MINUS Total deductions
Tax offsets
Total tax offsets
Other

Tax calculation not required.

Taxpayer's name Brian DONALDSON
Taxable income Threshold 6000
Basic tax payable		Notes and calculations
Tax offsets
	MINUS total
	Subtotal	Must not be less than zero
Levies etc
Medicare levy
Medicare surcharge
HELP
SFSS
	PLUS total
Tax credits
TIDs (PAYG withholding)
Franking credits
TFN tax
Foreign tax credit
PAYG instalment credit
Private health ins offset
Baby bonus
Other
	MINUS total
balance payable or refund due		REFUND

NOTES

1] Make sure that all boxes and labels on the front page are filled in. For the ‘attachments’ question write N. None of the basic course homework or exam questions will require an attachment.

1] There are ‘totals’ labels on the I form, for example Total of tax withheld on p2, and TOTAL INCOME OR LOSS on p2, which gives the assessable income (i.e. the income before deductions). Make sure that, if applicable, the totals boxes are properly filled in – there are quite a few on the I form.