2007
Basic
Course Chapter 4
Question 5
Front page – postal address should be the PO box.
Item
number |
Amount |
Code |
Notes
and calculations |
Income |
|
|
|
1 |
13553 56234 |
|
|
2 |
328 |
|
168+160 |
9 |
2308 |
|
|
10 |
24 |
|
|
Total tax withheld |
13553 |
|
|
Assessable income |
56586 |
|
|
Deductions |
|
|
|
D4 |
1963 |
K |
See worksheet. |
D5 |
768 |
|
503+85+(160 x 18/16) |
|
|
|
|
Total deductions |
2731 |
|
|
Taxable income |
53855 |
|
Assessable income MINUS Total deductions |
Tax
offsets |
|
|
|
|
|
|
|
Total tax offsets |
|
|
|
Other |
|
|
|
|
|
|
|
Taxpayer's name Simon TEMPLAR |
|
|
|||
Taxable income 53855 Threshold 6000 |
|
||||
Basic
tax payable
|
|
|
Notes
and calculations |
|
|
Tax
offsets
|
|
|
|
|
|
|
|
|
|
||
|
MINUS
total |
|
|
|
|
|
Subtotal |
|
Must not be less than zero |
|
|
Levies
etc
|
|
|
|
|
|
Medicare levy |
|
|
|
||
Medicare surcharge |
|
|
|
||
HELP |
|
|
|
||
SFSS |
|
|
|
||
|
PLUS
total |
|
|
|
|
Tax
credits
|
|
|
|
|
|
TIDs (PAYG
withholding) |
|
|
|
||
Franking credits |
|
|
|
||
TFN tax |
|
|
|
||
Foreign tax credit |
|
|
|
||
PAYG instalment credit |
|
|
|
||
Private health ins offset |
|
|
|
||
Baby bonus |
|
|
|
||
Other |
|
|
|
||
|
MINUS
total |
|
|
|
|
balance
payable or
refund due |
|
|
REFUND |
|
|
NOTES
1] If you are claiming a
car expense at D1 (see chapter 7), or a self education expense at D4, then you MUST explain, in clear
English, the connection between the deduction and the taxpayer’s work. If you
do not do so you will lose a lot of marks on the exam and, if you were to not
do so when preparing an actual tax return, then the return would not be lodged
until it had been corrected.
‘Work-related
course’ or ‘deductible course’ or just ‘Yes’ are NOT explanations of the nexus.