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BULAW 5916 Taxation Law And Practice

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Jane is an eligible beneficiary of the Brown Family Discretionary Trust.  The trustees decided to distribute a cash amount of $20,000 to Jane for the current tax year.

Jane also receives $20,000 fully franked dividends.  Jane has a $20,000 HELP debt.

Jane received $79,000 (gross income) from employment at Company Pty Ltd for the period 1 July 2016 to 30 June 2017.  The correct amount of PAYG has been withheld.  

Jane reports interest income of $475.

Jane advises of investment expenses of $250.

Jane receives rental income of $35,000 from an investment property.  The associated expenses are:

  • Mortgage repayments: $25,000
  • Repairs: $2,000
  • Rates: $2,500
  • Insurance: $500

Jane sold a parcel of 200 Coles Myer Group shares on 1 July 2016 for $3,500.  She had purchased these shares on 1 July 2009 for $800. Her brokerage costs of buying and selling were $300 in total.

Jane made donations (for which she presents tax invoices and receipts) to the value of $900.

Jane does not wear a uniform to work.

Jane pays premiums on an income protection insurance policy equivalent to $1,000 per year.

Jane does not have Private Health Insurance.

Calculate the net tax payable/ refundable situation for Jane for the current tax year (include references, calculations & assumptions)

Green Pty Ltd is a resident gardening company registered with the following information:

TFN: 859 376 213

ABN: 79 512 647 864

ACN: 86 572 314 719

The following is the financial information for the year ended 30 June 2017.

GST (where it is applicable) has not been removed from the following amounts.

Depreciation (for tax purposes) was reported to be $5,500 for the current year.




Exempt income


Dividends (fully franked)


Interest received


Compensation from a client who failed in a legal suit to obtain damages from Green Pty td for alleged property damage.


Net capital gain



Advertising (print, net, signage, flyers)


Bad debts


Bank Charges


Capital expenditure (qualifies for immediate deduction)


Cost of sales


Sub-contractor expenses


Depreciation expenses






Environmental protection (disposal of chemicals)


Fines (speeding and parking tickets)




Interest expenses within Australia


Lease expenses within Australia


Motor Vehicle 3rd Party insurance


Motor Vehicle expenses (petrol & maintenance)


Motor Vehicle Registration


Rent expenses


Stationery & Office supplies


Tea, coffee, sugar & milk for staff use


Telstra (Phones & Internet)





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