Assignment Task:
Bruce Lee - receipts and payments for the year
Calculate the tax payable for Bruce Lee for the year ended 30 June 2023.
Receipts:
Gross salary (PAYG W $20,000) $100,000
Fully franked dividend from FNZ Pty Ltd $200,000
Rent from investment property $35,000
Bank interest $12,000
Payments:
Mortgage payment on his family home $65,000
Interest payment on his investment property $35,000
Rates and body corporate fees on investment property $12,000
Land tax $6,000
Private health insurance (family cover) $5,600