During the year ended 30 June 2019 Rechelle, a resident taxpayer, received salary and wages income of $34,750 and a franked dividend of $11,800 with $3,200 of attached franking credits. She also had PAYG instalments of $15,000 withheld from her salary and wages income. She has no dependents. But she has work related allowable deductions of $5,000. Required: What will her net tax to pay or refund be (ignore Medicare levy)? All calculations must be shown as well as relevant legislation

During the year ended 30 June 2019 Rechelle, a resident taxpayer, received salary and wages income of $34,750 and a franked dividend of $11,800 with $3,200 of attached franking credits. She also had PAYG instalments of $15,000 withheld from her salary and wages income. She has no dependents. But she has work related allowable deductions of $5,000. Required: What will her net tax to pay or refund be (ignore Medicare levy)? All calculations must be shown as well as relevant legislation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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