Answer to Question #149628 in Finance for sandeep

Question

Doug, a resident of Australia, receives a $10,000 dividend franked to 100% ($4,285 franking credits).
He has also earned bank interest of $1,500 and has allowable deductions of $510 for the year of
income.
Required:
Calculate Doug’s net tax payable / refundable that would be assessed in relation to the year ended 30
June 2019.

Answer 1

If these are the only earnings of Doug, then Doug’s net tax payable / refundable that would be assessed in relation to the year ended 30 June 2019 is zero, because the tax rate for income below $18,200 is zero.