FNSACC502B..2 - Mohammed Gazanfar Student id 01429 Student Name Mohammed Gazanfar Student No 01429 Unit Name Prepare legally complain Tax returns for

FNSACC502B..2 - Mohammed Gazanfar Student id 01429 Student...

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Mohammed Gazanfar Student id 01429 Student Name Mohammed Gazanfar Student No 01429 Unit Name Prepare legally complain Tax returns for individuals Q1… 1 ..... Peter taxable income for the year ended 30 June 2012 Gross wages $ 50,000 Investment interest $ 1,000 Rent of property $ 5,000 Total T income $ 56,000 2 ..... Anny Taxable income during the year Investment interest in Australia $ 13,000 3……Lana taxable income during the year 3month worked in Canberra $ 33,000 Property investment in Darwin $ 80,000 Total T income $ 11, 3000
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Mohammed Gazanfar Student id 01429 Q2...Solution Gross salary $ 76,843 Allowable deduction -$ 865 Taxable income $ 75,978 Prime taxable on $ 75,978 $ 16,343 + Medicine 1.5 % on $ 75,978$ 11, 3967 Gross tax payable $ 17,482 _ Tax paid $ 17300 Q3…… 1…. Farmer sells 3 cows to farmer (Ordinary income) 2….A plumber work & replacement parts both cost $ 750 (Ordinary income) 3….Andrew owns greyhounds for hobby (Not ordinary)if g9 He sells 12 every year (Ordinary income) 4…..Richard greengrocer business From selling vegetable $ 90,000 From selling fruit $ 70,000 Total $ 160,000 (Ordinary income) From selling truck $ 20,000 (Not ordinary) 5….Daniel win lottery $ 50 (Not ordinary)
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  • Taxation in the United States, Mohammed Gazanfar

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