2007 Basic Course Chapter 11
Question 4
Front page
Filling out the I Form
|
Item
number |
Amount |
Code |
Notes
and calculations |
|
Income |
|
|
|
|
1 |
2582 15840 |
|
|
|
2 |
352 |
|
|
|
3R |
1440 |
R |
|
|
5 |
6160 |
|
|
|
|
2582 |
|
|
|
Assessable income |
23792 |
|
|
|
Deductions |
|
|
|
|
D1 |
630 |
S |
940 x 0.67 |
|
D5 |
396 |
|
352 x 18/16 |
|
D10 |
98 |
|
|
|
|
|
|
|
|
Total deductions |
1124 |
|
|
|
Taxable income |
22668 |
|
Assessable income MINUS Total deductions |
|
Tax
offsets |
|
|
|
|
|
|
|
|
|
Total tax offsets |
|
|
|
|
Other |
|
|
|
|
M2 |
N 365 days |
|
|
Tax calculation
|
Taxpayer's name Nerida BATRAM |
|
|
|||
|
Taxable income 22668 Threshold 6000 |
|
||||
Basic
tax payable
|
|
2500.20 |
Notes
and calculations |
|
|
Tax
offsets
|
|
|
|
|
|
|
Beneficiary |
24 |
(6160 – 6000) x 15% |
|
||
|
Low income |
600 |
|
|
||
|
|
MINUS
total |
624.00 |
|
|
|
|
|
Subtotal |
1876.20 |
Must not be less than zero |
|
|
Levies
etc
|
|
|
|
|
|
|
Medicare levy |
340.02 |
22668 x 1.5% |
|
||
|
Medicare surcharge |
|
|
|
||
|
HELP |
|
|
|
||
|
SFSS |
|
|
|
||
|
|
PLUS
total |
340.02 |
|
|
|
Tax
credits
|
|
|
|
|
|
|
TIDs (PAYG
withholding) |
2582 |
|
|
||
|
Franking credits |
|
|
|
||
|
TFN tax |
|
|
|
||
|
Foreign tax credit |
|
|
|
||
|
PAYG instalment credit |
|
|
|
||
|
Private health ins offset |
|
|
|
||
|
Baby bonus |
|
|
|
||
|
Other |
|
|
|
||
|
|
MINUS
total |
2582.00 |
|
|
|
|
balance
payable or
refund due |
|
365.78 |
REFUND |
|
|
NOTES
Self education is not
claimable because she was not working while she was studying.