In: Accounting
Alex is resident of the UK for tax purposes. He lives in Australia and had $90,000 assessable income from Australian sources in 2019/2020. He does not have any allowable deductions.
Required:
a- What is Alex’s taxable income?
b- Calculate Alex’s tax payable.
Thus, tax payable should be calculated on $90,000 or it should be converted into pound and calculate tax was clearly not stated . Both type of tax calculations are done.