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Calculate gary tax liability as result

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Reference no: EM132883082

Hard Yakka Ltd contributed 40,000 to a complying superannuation fund for the year ending 2020 on behalf of one of its employees, Gary aged 30 Gary derived gross wage of $400,300for the year income. He had no other assessable income and 300.00 of work related deductions.

Problem 1: Calculate Gary's tax liability as a result of the excess contribution and indicate how Gary can pay this tax Liability.

Reference no: EM132883082

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