Reference no: EM132641235
Question - Wages (Melbourne employment) - $125,000 net wages, PAYG withheld of $43,000 plus a bonus of $5,000 was paid.
Wages (Darwin employment) - $25,000 net wages, PAYG withheld of $1,500
Interest income $1,000
Allowable general deductions $3,300
Allowable specific deductions $1,000
Lisa is single with no private health insurance.
Lisa has no reportable fringe benefits or reportable superannuation contributions required to calculate Lisa's taxable income and net tax payable for the year ending 30 June 2020.
Required -
Calculate Lisa's Basic Tax Payable. Show all workings.
Calculate Lisa's Medicare Levy. Show all workings.
Calculate Lisa's Medicare Levy Surcharge. Show all workings.
Calculate Lisa's Net Tax Payable. Show all workings.
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