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Calculate taxable income and tax payable for mrs ashe

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Reference no: EM132944557

Mrs AShe has presented you with the following list of items.Payment summary from Company B, a single mum with two children, would like you to assist her to prepare her tax return for the 30 June 2021 tax year. - 95671

Payment Summary for casual work from Company C - 47305

Payment for attending a casual work conference - 5836

Reimbursement for expenses at the casual work conference - 2000

State lottery winnings - 1000

Net capital gain on shares sold during the year - 7964

Dividends received - 5058

Compensation for loss of wages due to an injury at her casual job - 1000

Interest from a bank term deposit - 1000

Money from selling eggs that her chickens laid to her friends - 500

General work deductions - 10000

Deductions that are not allowed for tax purposes - 5000

She had private insurance from 1 January 2021 and a HELP debt of $20,000.

Requirement:

Problem 1: Calculate her taxable income and tax payable. Please show all workings

Reference no: EM132944557

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