User Account

All Pages

Calculate selina taxable income for the tax year

Assignment Help Accounting Basics
Reference no: EM132582454

During the 2017/18 tax year, Selina Matterson (a single resident taxpayer, aged 41) has the following receipts:

  • Net salary (after $18,000 PAYG tax withheld) $55,000
  • Fully franked dividend from PPP Ltd $9,800 (with franking credit $4,200)
  • Unfranked dividend from QQQ Ltd $900
  • Net interest received $954 (after $846 no TFN tax withheld)
  • Selina had no deductions
  • She was covered by private hospital insurance

Required:

Question 1: Calculate Selina's taxable income for the 2017/18 tax year.

Question 2: Calculate Selina's net tax payable/refundable (including Medicare Levy) for the 2017/18 tax year.

Reference no: EM132582454

Questions Cloud

Impede the flinching and negotiation process : Determine whether or not you believe an excess of pride may impede the flinching and the negotiation process
Make the income statement of luke steel manufacturing : The beginning balances of Luke Steel Manufacturing Company,Prepare the Income Statement of Luke Steel Manufacturing Company for the first quarter of 2020.
How are fluid balance and electrolyte balance interdependent : How are fluid (water) balance and electrolyte balance interdependent? Explain how hydrostatic and osmotic pressure regulates the movement of water and electroly
Field operational-auditing is process of validating : Auditing is the process of validating that an environment complies with its design.
Calculate selina taxable income for the tax year : Calculate Selina's net tax payable/refundable (including Medicare Levy) for the 2017/18 tax year. Calculate Selina's taxable income for the 2017/18 tax year.
Why is osmotic pressure low in someone : Why is osmotic pressure low in someone who is having an allergic reaction?
Write the 4 possible genotypes : Write the 4 possible genotypes (and corresponding phenotypes) for the P1 and P2 plants. Each genotype should have 4 letters, and the genotype of EACH gene
What are the gains and losses of international trade : What are the gains and losses of international trade? What happens when tariffs are imposed, in terms of the importing and exporting countries?
Give the user accesses to the software remotely via internet : When a systems vendor provides software via the Internet and gives the user accesses to the software remotely via the Internet, this is known as

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd