Steven is a thirty-year-old Australian resident for tax purposes. He is single with no dependant and resides permanently in Newcastle. Steven’s Payment Summary for the year ended 30 June 2020 showed the following details: In addition, Steven received a fully franked dividend from an ASX listed (Non- Small Business Taxpayer) Company of $3,800 and had a net rental loss of $6,500. Steven has no private hospital cover during the year and at 30 June 2020 had an accumulated HELP (HECS) debt of $9,250. Steven had no other income or

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Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.