Copyright – The Australian College for Microcomputers Pty Ltd Sydney 2020 1
| Week 1 – Tutorial | Key Phrases / Tax Payable |
Question 1
a) Doug (resident of Australia) earns $190,000 from his employment as an IT specialist. He has
no allowable deductions.
b) Doug (resident of Australia) earns $32,500 from his employment as an IT specialist. He has
no allowable deductions.
c) XYZ Pty Limited (resident of Australia and not an SBE / BRE) has assessable income of $32,500 for
the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations
referred to above for the year ended 30 June 2019.
Question 2
a) Doug (resident of Australia) earns $190,000 from his employment as an IT specialist. He has
no allowable deductions.
b) Doug (resident of Australia) earns $32,500 from his employment as an IT specialist. He has
no allowable deductions.
c) XYZ Pty Limited (resident of Australia and not an SBE / BRE) has assessable income of $32,500 for
the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations
referred to above for the year ended 30 June 2018.
Question 3
a) Doug earns (non-resident of Australia) $190,000 from his employment as an IT specialist. He
has no allowable deductions.
b) Doug earns (non-resident of Australia) $32,500 from his employment as an IT specialist. He
has no allowable deductions.
c) XYZ Pty Limited (non-resident of Australia and not an SBE / BRE) has assessable income of
$32,500 for the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations
referred to above for the year ended 30 June 2019.
Question 4
a) Doug earns (non-resident of Australia) $190,000 from his employment as an IT specialist. He
has no allowable deductions.
b) Doug earns (non-resident of Australia) $32,500 from his employment as an IT specialist. He
has no allowable deductions.
c) XYZ Pty Limited (non-resident of Australia and not an SBE / BRE) has assessable income of
$32,500 for the tax year. It has no allowable deductions.
Required:
Calculate the net tax payable / refundable that would be assessed in relation to t h e situations
referred to above for the year ended 30 June 2016.
Copyright – The Australian College for Microcomputers Pty Ltd Sydney 2020 2
Question 5
Doug, a resident of Australia, receives a $10,000 dividend franked to 100% ($4,285 franking credits).
He has also earned bank interest of $1,500 and has allowable deductions of $510 for the year of
income.
Required:
Calculate Doug’s net tax payable / refundable that would be assessed in relation to the year ended 30
June 2019.
Question 6
In addition to his salary of $47,000, Doug receives a $20,000 dividend franked to 50 % ($4,285
franking credits). Pay As You Go (“PAYG”) of $6,250 was deducted from his salary during the year of
income. He was also lucky at Star Casino and won $10,000 at blackjack.
Required:
Calculate Doug’s net tax payable / refundable that would be assessed in relation to the year ended 30
June 2019.
Question 7
During the year ended 30 June 2019 Jane, a resident taxpayer, received salary and wages income of
$86,000 and a franked dividend of $4,800 with $1,200 of attached franking credits. Her employer
deducted PAYG instalments of $21,250. She has no dependents and no deductions.
Required:
Calculate Jane’s net tax payable / refundable for the income tax year ended 30 June2019.
Question 8
During the year ended 30 June 2018 XYZ Pty Limited, a resident Australian private company and not an
SBE / BRE, received a franked dividend of $9,800 with $3,200 of attached franking credits. XYZ Pty
Limited had allowable interest deductions of $800 for the year ended 30 June 2018.
Required:
Calculate XYZ Pty Limited’s net tax payable or refundable for the income tax year ended 30 June 2018.
Question 9
During the year ended 30 June 2018 XYZ Pty Limited, a resident Australian private company and not an
SBE / BRE, received a franked dividend of $9,800 with $3,200 of attached franking credits. XYZ Pty
Limited had allowable interest deductions of $3,800 for the year ended 30 June 2018.
Required:
Calculate XYZ Pty Limited’s net tax payable or refundable for the income tax year ended 30 June 2018.