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For the year ended 30 June 2007 Reene's payment summaryshows wages of $30000 with tax withheld of $5700. Reene also hasbank interest of $2000 and allowable work related expenses of $100.She has a company and she earn $10000 ( Net of tax). Company taxrate is 30%.
On 1 June 2007 Reene sold some shares in XYZ Ltd for $5000. Theshares cost her $3000 when purchased on June 2002 and she had acarried forward loss of $250 from the AMP group.
Calculate Renee's tax payable or refundable for the yearended 30 June 2007.
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