Calculate what will his net tax to pay or refund be

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Problem

During the year ended 30 June 2022 Frank, a resident taxpayer, received salary and wages income of $56,000 and a franked dividend of $9,900 with $3,100 of attached franking credits. He also won $10,000 in that financial year betting on the races. He also had PAYG instalments of $8,740 withheld from his salary and wages income. He has no dependents. Get the instant assignment help. He has work related allowable deductions of $8,000. Explain and calculate what will his net tax to pay or refund be (ignore Medicare levy) when his assessment issues?

Reference no: EM133922959

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