Calculate The Income Tax Payable, Ignoring The Medicare Levy ✓ Solved

Calculate the income tax payable, ignoring the Medicare levy, for the following taxpayers for the year ended 30 June 2016

Answer the following questions with reference to the relevant legislative provisions operating in Australia concerning the calculation of income tax. Do not consider the effects of legislation potentially applicable other than that specifically identified.

Calculate the income tax payable, ignoring the Medicare levy, for the following taxpayers for the year ended 30 June 2016:

• An Australian individual who is a resident with a taxable income of $15,000.
• An Australian individual who is a non-resident with a taxable income of $15,000.
• An Australian company with a taxable income of $15,000.
• An Australian individual who is a resident with a taxable income of $155,000.
• An Australian individual who is a non-resident with a taxable income of $155,000.
• An Australian company with a taxable income of $155,000.
• An Australian individual who is a resident with a taxable income of $255,000.
• An Australian individual who is a non-resident with a taxable income of $255,000.
• An Australian company with a taxable income of $255,000.
• An Australian company qualified as a “small business entity” with a taxable income of $100.