2007  Basic Course  Chapter  13  Question 2

Front page

 

Filling out the I Form

 

Item number

Amount

Code

Notes and calculations

Income

 

 

 

1

10897          48396

 

 

14

1916

L

 

15

1916

 

 

Total tax withheld

 10897

 

 

Assessable income

48396

 

 

Deductions

 

 

 

D3

92

P

80+12

D5

80

 

30+50

D10

158

 

 

Total deductions

330

 

Not eligible for super deduction: 10% rule.

Taxable income

48066

 

Assessable income MINUS Total deductions

Tax offsets

 

 

 

 

 

 

 

Total tax offsets

 

 

 

Other

 

 

 

Private health insurance

MBP 2888399

H

 

M2

Y 365 days

 

 

Spouse details

 

 

 

 

Tax calculation

 

Taxpayer's name James Albert FISHBURN

 

 

Taxable income 48066                      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