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Calculate Yvette taxable income for the tax year

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Reference no: EM132614653

Question - Yvette Jankic, a resident single taxpayer aged 31, worked in New Zealand from 1 July 2017 until 15 November 2017 and has provided the following information for the 2017/18 tax year:

Receipts $

Interest (net of TFN tax withheld $490) 510

Interest from United Kingdom (net of withholding tax $300) 2,700

Dividend from the U.S. state of Georgia (net of withholding tax $2,100) 3,900

Gross salary - Australian employment (PAYG tax $5,285 withheld) 21,000

Reportable fringe benefit as per PAYG Summary 6,252

Net salary - New Zealand employment (tax withheld $2,540) 12,650

Bonus from Australian Employer for exceptional performance 2,000

Payments $

Interest and Dividend deductions relating to United Kingdom and Georgia investments 250

Work-related deductions relating to Australian employment 300

Note - Yvette does not have private health insurance.

Required -

a. Calculate Yvette's taxable income for the 2017/18 tax year.

b. Calculate Yvette's net tax payable or refundable for the 2017/18 tax year.

Reference no: EM132614653

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