Chris is an Australian resident for the year ended 30 June 2020. During the last financial year, he has received/paid the following. Based on the following, calculate Chris's axable income: ross wage $41,000, PAYG withheld $10,000
Chris is an Australian resident for the year ended 30 June 2020. During the last financial year, he has received/paid the following. Based on the following, calculate Chris's axable income: ross wage $41,000, PAYG withheld $10,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Chris is an Australian resident for the year
ended 30 June 2020. During the last financial
year, he has received/paid the following.
Based on the following, calculate Chris's
taxable income:
gross wage $41,000, PAYG withheld $10,000
cash dividends of $2,000, with franking credits
of $860 attached
union fees paid while working $750
meal paid for overtime only $250
Select one:
$52,860
$43,110
$52,250
$42,250
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