Luke had a yearly income of \({\rm{\$ 100,157}}\) and earned \({\rm{\$ 340}}\) in dividends from his shares. He also had allowable deductions of \({\rm{\$ 640}}\) for car expenses and \({\rm{\$ 432}}\) in the depreciation of his photocopier. Calculate,

a. Lukes taxable income
b. the amount of tax payable.

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

John is a swimming pool manager with a yearly income of \({\rm{\$ 55,958}}{\rm{.}}\) He also earned \({\rm{\$ 227}}{\rm{.50}}\) in interest from his bank savings account. John also had allowable deductions of \({\rm{\$ 234 }}\) and \({\rm{\$ 65}}\) in donations to charity. Calculate, rounding to the nearest dollar

a. John's taxable income
b. the amount of tax payable 

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

Mia earns \({\rm{\$ 2446}}{\rm{.87}}\) per fortnight and claims deductions of \({\rm{\$ 955}}{\rm{.30}}\) in travel expenses, \({\rm{\$ 572 }}\) depreciation of camera equipment, \({\rm{\$ 180}}{\rm{.20 }}\) membership to a professional association and \({\rm{\$ 150 }}\) donated to a charity. Calculate Mia's income tax payable.

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

Use the tax table to calculate the tax on a taxable income of $80,000.

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

Lucy's taxable income is $85,490. Her tax installments paid were $25,400.

(i)  Lucy's calculated tax is?

(ii)  Lucy's refund on tax owing is?

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

John's taxable income is $85,404. 

(i)  Find the tax payable on the amount

(ii)  What percentage of his income is paid in tax?

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

Anna's gross income is $151,000. Her allowable tax deductions are $9420. Anna pays $780 per week in tax. What amount will Anna receive or refund?

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

Tong's taxable income is $52,480. His medicare levy is 2% of his taxable income. The total amount due to the taxation department including the medicare levy is?

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}

Chloe earns an income of $86,400 she also has $80,200 in a bank account that earns a flat interest rate of 4%

(i) How much interest does chloe earn from her bank account each year?

(ii)  Calculate Chloe's tax payable

\begin{array}{|l|l|}
\hline \text { Taxable Income } & \text { Tax Payable } \\
\hline 0-\$ 18200 & \text { Nil } \\
\hline \$ 18201-\$ 37000 & \text { Nil }+19 \text { cents for each } \$ 1 \text { over } \$ 18200 \\
\hline \$ 37001-\$ 87000 & \$ 3572+32.5 \text { cents for each } \$ 1 \text { over } \$ 37000 \\
\hline \$ 87001-\$ 180000 & \$ 19822+37 \text { cents for each } \$ 1 \text { over } \$ 87000 \\
\hline \$ 180001 \text { and over } & \$ 54232+45 \text { cents for each } \$ 1 \text { over } \$ 180000 \\
\hline
\end{array}