HI6028 Taxation Theory, Practice & Law Assignment Help

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QUESTION 2 - (15 MARKS)

Version a)
Calculate Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the tax payer (Judy) with information below:
Judy is a resident married, with no children, tax payer of Australia for the tax year 2019-2020
Her Taxable Salary earned is $100,000 while her husband’s taxable income for the same year is $150,000 (Including tax withheld) both having no private health insurance.
Judy has a student loan outstanding for her previous studies at University Technology Sydney of $80,000.
Judy’s and her husband’s employers pay superannuation guarantee charge of 9.5% on top of their salary to their nominated funds.
Judy earned a passive income of $20,000 from the investments in shares in the same tax year.

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