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THIS QUESTION REQUIRES AN ESSAY STYLE ANSWER During the year ended 30 June 2022, Jun, a resident of Australia, has a taxable income of $68,000. He has no dependents. His employer deducted PAYG instalments of $10,200. He has no dependents. He had $3,000 deductible work-related expenses. Required: What will his net tax to pay or refund be (ignore Medicare Levy)? All calculations must be shown and relevant legislation.

THIS QUESTION REQUIRES AN ESSAY STYLE ANSWER During the year ended 30 June 2022, Jun, a resident of Australia, has a taxable income of $68,000. He has no dependents. His employer deducted PAYG instalments of $10,200. He has no dependents. He had $3,000 deductible work-related expenses. Required: What will his net tax to pay or refund be (ignore Medicare Levy)? All calculations must be shown and relevant legislation.

FINANCIAL ACCOUNTING
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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THIS QUESTION REQUIRES AN ESSAY STYLE ANSWER During the year ended 30 June 2022, Jun, a resident of Australia, has a taxable income of $68,000. He has no dependents. His employer deducted PAYG instalments of $10,200. He has no dependents. He had $3,000 deductible work-related expenses. Required: What will his net tax to pay or refund be (ignore Medicare Levy)? All calculations must be shown and relevant legislation
Transcribed Image Text:THIS QUESTION REQUIRES AN ESSAY STYLE ANSWER During the year ended 30 June 2022, Jun, a resident of Australia, has a taxable income of $68,000. He has no dependents. His employer deducted PAYG instalments of $10,200. He has no dependents. He had $3,000 deductible work-related expenses. Required: What will his net tax to pay or refund be (ignore Medicare Levy)? All calculations must be shown and relevant legislation
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