Tony is a resident for tax purposes and during the year ended 30 June 2020 he derived $140,000 in assessable income and had deductions, for which he has kept the appropriate records, of $10,000. He is single and he does have private health insurance that covers him for hospital services. Based on this information, what Australian tax liability is Tony likely to have for the 2020 tax year?

Question

Quizplus · Accepted Answer

The Answer of Tony is a resident for tax purposes and during the year ended 30 June 2020 he derived $140,000 in assessable income and had deductions, for which he has kept the appropriate records, of $10,000. He is single and he does have private health insurance that covers him for hospital services. Based on this information, what Australian tax liability is Tony likely to have for the 2020 tax year?

Tony Is a Resident for Tax Purposes and During the Year