Reference no: EM133184590

Question - Allison miles, aged 17 years, currently lives at home with her mother. While studying fulltime for her final year at high school she worked part-time in a retail shop for 15 hours a week. During the year ended 20 June 2021, Allison's income were as follows:

Wages from working at the retail shop $8,700

Interest from bank account $904 (Allison's uncle established a bank account with a balance of $30,000 in 2019/20 financial year in Allison's name).

Allison's grandfather who is still alive and is the trustee of the miles family discretionary trust, distributed $10,000 to assist Allison's school and living expenses during the 2020/21 income tax year.

Interest from Allison's other bank account in which she has banked her receipts for her employment activities $240.

Required -

A) Classify Allison as an excepted or prescribed person.

B) Classify each amount as eligible or expected income.

C) Determine that taxable income for Allison for the 2020/21 tax year.

D) Identify the relevant tax rate for each amount and who pays the tax on each amount.

E) Calculate her tax payable/refundable exclusive any medicare levy.