Jessa is a resident of Australia and has a taxable income of $46639 for year ended 2019. Required: What is her Basic Income Tax Liability? Your answer should be inumerical only. eg 99999 Answer:
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- 9Mr. Albert is a tax payer in UK and wants to compute his total income for the tax year 2019-2020. Which of the following statement is Correct to find out his total income? a. It will be computed after deducting personal allowances from Adjusted Net Income b. It will be computed after deducting personal allowances from Net Income c. It will be computed before deducting qualifying interest payments from Net Income d. It will be computed before deducting personal allowances from total taxable IncomeQuestion 1 (Marks - 10) Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below: • Susanne is a single and an Australian resident plans to lodge a tax return for the tax year 2020 - 2021. • Her total taxable income is $90,000 (Including tax withheld). • She does not have private health insurance. • Susanne has a student loan HECS outstanding for her previous study at Sydney University of $53,000. • Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. • Susanne earned a passive income of $10,000 from the investments in shares in the same tax year.
- Whenj a taxpajayer claims the spousal credit for an infirm spouse ($13,229 or less + $2,273 for 2020), an additional amount of the Canada caregiver amount may be available. Under what circumstances is this additional amount available and, when it is available, how is it calculated?Jason is an Australian tax resident and for the financial year 2019-20, has taxable income of $ 61,000 and reportable super contribution of $ 3,500. Jason also has a Study and Training Support loan (HELP-HECS) from undertaking a University degree. What is Jason's compulsory rate of repayment on this loan?Matteo, a single taxpayer has taxable income of $90,000. Using the US 2020 tax rate schedule. How much federal tax will he owe? 2020 US Tax System
- Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below, as per australia:• Susanne is a single and an Australian resident plans to lodge a tax return for the tax year 2020 -2021.• Her total taxable income is $90,000 (Including tax withheld).• She does not have private health insurance.• Susanne has a student loan HECS outstanding for her previous study at Sydney University of$53,000.• Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominatedfund.• Susanne earned a passive income of $10,000 from the investments in shares in the same tax yearConsidering the information below, calculate Mary tax liability (including Medicare Levy and Medicare Levy Surcharge, if applicable, and ignore any tax offsets such as LITO and LMITO): Mary is a single non-tax resident (foreign resident) of Australia in the tax year 2018-2019 and has no private health insuranceAssessable income for the year is of $95,000Total deductions for the year are $25,000Jane 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 incomeTotal taxable incomeUsing correct income tax rateMedicare LevyMedicare Levy SurchargeHELP repayment amount with using current threshold and rateTotal Tax LiabilityNet Tax Liability (Total Tax Liability less any applicable…
- Nancy is a California resident who is filing her taxes as a head of household. Her alternative minimum taxable (AMT) income for 2020 is $179,000. What is her maximum alternative minimum tax (AMT) exemption amount? A. $45,895B. S63,481C. S74,780D. S91,793Question 1 Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below: • Susanne is a single and an Australian resident plans to lodge a tax return for the tax year 2020 - 2021. • Her total taxable income is $90,000 (Including tax withheld). • She does not have private health insurance. • Susanne has a student loan HECS outstanding for her previous study at Sydney University of $53,000. • Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. • Susanne earned a passive income of $10,000 from the investments in shares in the same tax year. Hint: The following website can be used to cross-check your answer, but you need to provide the detailed calculations, rates and explanations with the screenshots of rates from the ATO website.Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the tax payer (Judy) with information below: • Judy is a resident married, with no children, tax payer of Australia for the tax year 2019-2020 • Her Taxable Salary earned is $100,000 while her husband’s taxable income for the same year is $150,000 (Including tax withheld) both having no private health insurance. • Judy has a student loan outstanding for her previous studies at University Technology Sydney of $80,000. • Judy’s and her husband’s employers pay superannuationguarantee charge of 9.5% on top of their salary to their nominated funds. • Judy earned a passive income of $20,000 from the investments in shares in the same tax year.