2007 Basic Course Chapter
6 Question 5
Front page
Filling out the I Form
|
Item
number |
Amount |
Code |
Notes
and calculations |
|
Income |
|
|
|
|
1 |
39 2304 |
|
|
|
5 |
5720 |
|
|
|
11T |
324 |
|
The share
dividends are excepted income because they were acquired by inheritance. |
|
11U |
138 |
|
|
|
|
39 |
|
|
|
Assessable income |
8486 |
|
|
|
Deductions |
|
|
|
|
D3 |
67 |
C |
48+(37 x 0.50) |
|
D5 |
65 |
|
Union membership on payment summary. |
|
|
|
|
|
|
Total deductions |
132 |
|
|
|
Taxable income |
8354 |
|
Assessable income MINUS Total deductions |
|
Tax
offsets |
|
|
|
|
|
|
|
|
|
Total tax offsets |
|
|
|
|
Other |
|
|
|
|
M2 |
N 365 days |
|
Must be
filled out in ALL cases. |
|
A1 |
8354 |
M |
Must be
filled out in ALL cases if taxpayer < 18y. |
Tax calculation
|
Taxpayer's name Jason LIM |
|
|
|||
|
Taxable income 8354 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
If the taxpayer is under
18y on June 30, item A1 must be filled out in ALL cases.