User Account

All Pages

Calculate Stan net tax payable or refundable for tax

Assignment Help Accounting Basics
Reference no: EM132546450

Question - Superannuation lump sum, low cap amount

Stan Eckhardt, aged 57, received a superannuation lump sum of $310,000 from his superannuation fund upon retirement on 15 April 2018. PAYG tax of $28,170 was withheld from the lump sum. The lump sum comprised entirely of an element taxed in the fund.

Stan also received gross wages of $85,000 up to the date of his retirement. PAYG tax of $22,110 was withheld from Stan's wages. Stan has adequate private health insurance.

a) Computation of taxable income for 2017-2018.

B) Calculate Stan's net tax payable or refundable for the 2017/18 tax year.

Reference no: EM132546450

Questions Cloud

Creating a business plan for a startup company : Compare the process of creating a business plan for a startup company and the process of creating a capital budget proposal. Explain three similarities
What is the interest tax shield from? braxton debt : If? Braxton's marginal corporate tax rate is 35%?, what is the interest tax shield from? Braxton's debt in each of the next five? years?
Digital currency litigation paper : Prepare a paper on the future of digital currency litigation and the implications for taxation.
What budget is needed to prepare the direct labor budget : What budget is needed to prepare the direct labor budget? General and Administrative expense budget/ Production budget/ Direct labor budget
Calculate Stan net tax payable or refundable for tax : Question - Superannuation lump sum, low cap amount. Calculate Stan's net tax payable or refundable for the 2017/18 tax year
Which asset performed better over the 8-year period : The bank also invested in Asset B: $3,000,000 at 5.3% p.a. compounded daily.
Great recession financial crisis : Was the Great Recession Financial Crisis a liquidity issue or solvency issue?
Find what factors would influence mullet decision to refund : Conduct a complete bond refunding analysis. What is the bond refunding 's NPV? Do not round intermediate calculations. Round your answer.
Delivery of public health services : You think is one of important factors that influences the relationship between public and private entities involved in the delivery of public health services

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare a retained earnings statement for the year

These financial statement items are for Emjay Company at year-end, July 31, 2014. Prepare a Retained Earnings statement for the year

  Post the transactions to t-accounts and determine each

selected transactions for the joel berges company are presented in journal form below.dateaccount titles and

  Prepare statement of cash flows for the year ended december

Cash dividends of $15,000 were paid. Prepare a statement of cash flows for the year ended December 31, 2011, using the indirect method

  Compute the estimated warranty expense payable amount

Analysis shows that around 2 percent of A-line sales require after-sale repairs. Beginning July 1, 20x1, Jake's Computer Sales and Repair provides customers with a limited product warranty on each A-line computer sold. Sales of A-line computers to..

  What will be the effect of the lease on ward earnings

Ward Products leased office space under a 10-year operating lease agreement. What will be the effect of the lease on Ward's earnings for the first year

  What was lowes and ryder operating income for january

Equipment with manufacturing costs of $69,000 were transferred to finished goods. What was Lowes and Ryder operating income for January

  What is the break-even sales (units)?

If fixed costs are $250,000, the unit selling price is $125, and the unit variable costs are $73, what is the break-even sales (units)?

  How would you explain the fraud squires executed

Using the elements of the fraud triangle, how would you explain the fraud Squires executed

  Improvements include new floors

On January 4 of this year, Freckles Boutique incurs a $ 105,000 cost to modernize its store.

  Paid innova company in full

Hyzer Disc Golf Course was opened on March 1 by Barry Schultz. The following selected events and transactions occurred during March:

  Compute the rate of return on the initial investment

NPV, ARR, and Payback Snuffy's Drive-In is considering a proposal to invest in a speaker system that would allow its employees to service drive-through customer

  Compute the weighted average cost of the fuses

Compute the weighted average cost of the fuses and air filters being sold of Trot implements the weighted average method to inventory these supplies

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