Calculate Do you believe there is a social class element in taxation? base tax payable and net tax payable for

Calculate Do you believe there is a social class element in taxation? base tax payable and net tax payable for

Question:

Calculate Do you believe there is a social class element in taxation? base tax payable and net tax payable for the following taxpayers for the 2021/22 tax year including the medicare levy.

 • Ted Jones (single) has adequate private health insurance for MLS purposes (low premium option). Taxable income is $49,000 and PAYG withheld $5,920.

• Poh Zhang (single) has no private health insurance. Taxable income $78,000, reportable fringe benefit $55,000 and PAYG withheld $16,200.

Expert Answer:

Answer rating: 100% (QA)

To calculate the base tax payable and net tax payable for Ted Jones and Poh Zhang for the 2021 22 tax year we ll need to consider their taxable income
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