How much is the tax on notional gross taxable income

Assignment Help Accounting Basics
Reference no: EM133046233

Question - Rachelle, a single resident taxpayer aged 30, completed 8 months of employment in Italy on an approved overseas aid project. She derived gross wages of A$50,000 from which A$8,000 of Italian tax was withheld. Rachelle also derived a gross salary of $40,000 from her regular employment in Australia. PAYG tax of $5,000 was withheld. How much is the tax on Notional Gross Taxable Income, ignoring tax offsets, Medicare Levy and Medicare Levy Surcharge.

a. $15,932

b. $20,932

c. $23,045

d. $1,800

Reference no: EM133046233

Questions Cloud

EDEC108 Ethical and Professional Issues in Education : EDEC108 Ethical and Professional Issues in Education Assignment Help and Solution, Excelsia College - Assessment Writing Service
How much is the capital credit of Z upon his admission : Question - X and Y has capital balances of 150,000 and 180,000 respectively. How much is the capital credit of Z upon his admission
Strategic component of a company : Please explain, why last mile logistics is a very important strategic component of a company's overall logistics management.
Encouraging an inclusive workplace : An organization with a multicultural perspective seeks to encourage equality no matter the race, gender, sexual orientation, religion, or disability of its work
How much is the tax on notional gross taxable income : PAYG tax of $5,000 was withheld. How much is the tax on Notional Gross Taxable Income, ignoring tax offsets, Medicare Levy and Medicare Levy Surcharge
Nature of employment relationships : A Detailed Report or at Least three (3) ways the nature of employment relationships has changed in business within Jamaica.
Discuss how the branding process would be used : Discuss how the branding process would be used for a newly formed team in the National Basketball Association.
What is value creation : What is Value creation? What do you think could be value creation by your store? What do you think could be a value creation by manufacturer B?
What will be the effect on profit of accepting the order : On the other hand, the company in China is willing to pay only $130 per unit. What will be the effect on profit of accepting the order

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd