2007 Basic Course Chapter 9
Question 5
Front page
|
Item
number |
Amount |
Code |
Notes
and calculations |
|
Income |
|
|
|
|
1 |
19924 74937 |
|
|
|
10 |
280 |
|
|
|
20 |
7294 |
L |
20P 6760 20Q
8575 20F 2313 20U 3166 |
|
Total
tax withheld |
19924 |
|
|
|
Assessable income |
67923 |
|
|
|
Deductions |
|
|
|
|
D6 |
424 |
|
|
|
D10 |
158 |
|
130+(50km x 0.55) |
|
|
|
|
|
|
Total deductions |
582 |
|
|
|
Taxable income |
67341 |
|
Assessable income MINUS Total deductions |
|
Tax
offsets |
|
|
|
|
|
|
|
|
|
Total tax offsets |
|
|
|
|
Other |
|
|
|
|
M2 |
N 0 days |
|
|
|
|
|
|
|
|
Taxpayer's name Tina WARD |
|
|
|||
|
Taxable income 67341 Threshold 6000 |
|
||||
Basic
tax payable
|
|
15552.30 |
Notes
and calculations |
|
|
Tax
offsets
|
|
|
|
|
|
|
|
|
|
|
||
|
|
MINUS
total |
|
|
|
|
|
|
Subtotal |
15552.30 |
Must not be less than zero |
|
|
Levies
etc
|
|
|
|
|
|
|
Medicare levy |
1010.11 |
67341 x 1.5% |
|
||
|
Medicare surcharge |
673.41 |
67341 x 1.0% |
|
||
|
HELP |
|
|
|
||
|
SFSS |
|
|
|
||
|
|
PLUS
total |
1683.52 |
|
|
|
Tax
credits
|
|
|
|
|
|
|
TIDs (PAYG
withholding) |
19924 |
|
|
||
|
Franking credits |
|
|
|
||
|
TFN tax |
|
|
|
||
|
Foreign tax credit |
|
|
|
||
|
PAYG instalment credit |
|
|
|
||
|
Private health ins offset |
|
|
|
||
|
Baby bonus |
|
|
|
||
|
Other |
|
|
|
||
|
|
MINUS
total |
19924.00 |
|
|
|
|
balance
payable or
refund due |
|
2688.18 |
REFUND |
|
|
NOTES
There can only be one low value pool per I form. There
can never be separate LVPs for work-related, rental,
business etc.