Sidney Aus is 64 years old and married with 2 children. She is fully employed and earned a salary of R1 690 000 for the current year of assessment. She also made contributions to a medical aid fund of R25 000 and her employer also contributed a further R65 000. In addition to the above she received the following income:Local dividends of R10 000,Interest received from a South African investment of R19 000.YOU ARE REQUIRED to determine the total amount which will be included in Sidney's Gross income for the current year of assessment.Select one:a.R1 780 000b.R1 784 000c.R1 690 000d.R1 755 000

Anthony is 58 years old. During the current year of assessment, he earned a salary R544 000. He contributed R67 000 to a provident fund. Antony and his employer contributed R62 000 each to his pension fund. You may assume that his remuneration is R626 400.YOU ARE REQUIRED to determine the retirement fund contribution deduction which he will be allowed to deduct from his taxable income for the current year of assessment.a.R62 000b.R129 000c.R169 128d.R67 000

John is an Australian resident individual taxpayer is employed as an Engineer. During the current income year, they receive the following:Salary: $102,000Superannuation: $10,200 (paid into nominated superannuation account)Interest: $250 (Australian bank account)Lottery winnings (from instant “scratchie”): $2,000What is the assessable income of the taxpayer for the year?Question 9Answera.$112,450b.$104,250c.$112,200d.$102,250e.$114,450

Determine whether the following receipts are likely to be ordinary income. (a) Weekly salary received by an employee.(b) Fortnightly age pension received by a retiree from the Australian government.(c) Compensation received by an injured worker for loss of salary because they were unable to work for four weeks.(d) A Christmas present of $150 received by a daughter from her mother.(e) Interest of $2,000 from a bank term deposit.(f) Weekly rent payment received by a landlord from their rental property tenant.(g) Lotto winnings of $1million.(h) A cash bonus of $1,000 received by an employee from their employer.(i) A watch worth $250 received from by a business owner from a satisfied client.

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.

Amanda is 32 years old and during the current year of assessment she had the following income and expenses:* Income Salary of R220 000* Bonus of R66 000EXPENSES:* Retirement annuity fund contributions of R11 000* Pension fund contributions of R11 000You may assume that her remuneration for the year is R242 000. YOU ARE REQUIRED to calculate the retirement fund contribution deduction which she will be allowed to deduct from her taxable income for the current year of assessment.a.R66 550b.R78 650c.R22 000d.R11 000Clear my choice