Jingyi is a foreign resident for Australian taxation purposes.Her receipts (all in Australian dollars) for the current income year were:• $40,000 from a rental property in Brisbane.• $20,000 while employed in the United Kingdom ($6,000 in income tax was collected in theUK from this income).• $10,000 from an unfranked dividend from an Australian company that derives its profits inAustralia (and was subjected to withholding tax).• $2,000 dividend from a Korean company (the company derives its profits in Korea).Jingyi’s Australian ASSESSABLE INCOME for the current income year would be:[A] $40,000[B] $50,000[C] $52,000[D] $66,000[E] $72,000

Assume OzCpy is an Australian firm whose shares trade on the ASX. The firm earn part of its domestically income in Australia and and part of its income overseas, where it is required to pay tax to the foreign governments where it operates. Currently, the Australian corporate tax rate is 30% and the Medicare levy is 2%. OzCpy provides dividend imputation to Australian-resident shareholders from its Australian tax paid.Assume that OzCpy pays a 88% partly-franked dividend of $13.4 thousand to an Australian shareholder who has a marginal tax rate of 45% and who is exempt from paying the Medicare levy.  Compute the income tax payable by this investor on the partly-franked dividend.

Assume OzCpy is an Australian firm whose shares trade on the ASX. The firm earn part of its domestically income in Australia and and part of its income overseas, where it is required to pay tax to the foreign governments where it operates. Currently, the Australian corporate tax rate is 30% and the Medicare levy is 2%. OzCpy provides dividend imputation to Australian-resident shareholders from its Australian tax paid.Assume that OzCpy pays a 88% partly-franked dividend of $13.4 thousand to an Australian shareholder who has a marginal tax rate of 45% and who is exempt from paying the Medicare levy.  Compute the income tax payable by this investor on the partly-franked dividend

Changgu, a Korean who resides in Philippines has deposited in an expanded foreign currency in 2024 with the amount of 30,000 to have a yield of 12% annually. He is to be taxed at:*1 pointFinal tax of 25%Regular Income tax of 8%Final tax of 15%None, he is exempted.

The gains in value from which of the following are LEAST likely to be assessable income in Australia based on the lecture material:Question 8AnswerHaoyu bought some stocks for $10,000 and sold them later for $15,000.Zihan bought a one bedroom apartment for $500,000 and sold it 5 years later for $600,000. She rented it out as an investment property for the entire period.John bought a one bedroom apartment for $500,000 and sold it 5 years later for $600,000. He lived in it for the entire period as his main residence.Sarah bought Bitcoin for $10,000 and sold it later for $15,000.

Sally receives a payment of $1,400 in dividends on her shares in Westpac Bank. She receives this as a direct payment of $1,400 into her nominated bank account. Westpac send her a dividend notice advising that her dividend payment was $1,400 but she also has ‘franking credits’ of $600 for this dividend payment. How much is Sally’s assessable income on these dividends based on the Australian taxation system?Please do not include dollar signs or commas in your answer.