question archive During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts: 1Net salary (after $18,000 PAYG tax withheld) $55,000 2)Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200) 3)Unfranked dividend from QQQ Ltd $900 4)Net interest received $954 (after $846 no TFN tax withheld) Selina had no deductions She was covered by private hospital insurance Required: Calculate Selina's taxable income for the 2017/18 tax year
During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts: 1Net salary (after $18,000 PAYG tax withheld) $55,000 2)Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200) 3)Unfranked dividend from QQQ Ltd $900 4)Net interest received $954 (after $846 no TFN tax withheld) Selina had no deductions She was covered by private hospital insurance Required: Calculate Selina's taxable income for the 2017/18 tax year
Subject:BusinessPrice: Bought3
During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts:
1Net salary (after $18,000 PAYG tax withheld) $55,000
2)Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200)
3)Unfranked dividend from QQQ Ltd $900
4)Net interest received $954 (after $846 no TFN tax withheld)
- Selina had no deductions
- She was covered by private hospital insurance
Required:
Calculate Selina's taxable income for the 2017/18 tax year.
Calculate Selina's net tax payable/refundable (including Medicare Levy) for the 2017/18 tax year.
important Notes : 1) We should only include the Gross interest (rather than net interest) in part a
2) Dividends and franking credit
Show your working step by step
