Jane needs to lodge his income tax for 2020/21. Calculate her Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer with the information below: • Jane is a single and an Australian resident who plans to lodge tax for the tax year 2020 -2021 • Her total taxable income is $100,000 (Including tax withheld) • She does not have private health insurance. • Jane has a student loan HECS outstanding for her previous study at Tasmania University of $43,000. • Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. • Jane earned a passive income of $6,000 from the investments in shares in the same tax year. Calculate: Total Assessable income Total taxable income Using correct income tax rate Medicare Levy Medicare Levy Surcharge HELP repayment amount with using current threshold and rate Total Tax Liability Net Tax Liability (Total Tax Liability less any applicable tax offset if
Jane needs to lodge his income tax for 2020/21. Calculate her Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer with the information below:
• Jane is a single and an Australian resident who plans to lodge tax for the tax year 2020 -2021
• Her total taxable income is $100,000 (Including tax withheld)
• She does not have private health insurance.
• Jane has a student loan HECS outstanding for her previous study at Tasmania University of $43,000.
• Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund.
• Jane earned a passive income of $6,000 from the investments in shares in the same tax year.
Calculate:
Total Assessable income
Total taxable income
Using correct income tax rate
Medicare Levy
Medicare Levy Surcharge
HELP repayment amount with using current threshold and rate
Total Tax Liability
Net Tax Liability (Total Tax Liability less any applicable tax offset if
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