Am I the only one who felt like shit walking out? Fuck.Really good paper overall! So pleased
No you add the Medicare levy because that is also a tax.I thought it was pretty easy.. Only question i had trouble with was the tax question 27b (do you minus medicare levy from the thingy?) and 29e - the one where he decides to pay an extra $250
So did you add or subtract it from the value (it was 18000 odd from memory)?No you add the Medicare levy because that is also a tax.
I had trouble with the last question as a read fuel to mean petrol in the last part so I had to redo it.
Hayley
I added it to the tax payable (from her income)So did you add or subtract it from the value (it was 18000 odd from memory)?
So did she get a tax refund?I added it to the tax payable (from her income)
So it would've been (2500 x 0.37 + 17547) + (0.015 x 82500)
Hayley
No, I think she had to pay some amount of money still.So did she get a tax refund?
Yeah I subtracted the levy, it said the levy was 1.5% or whatever from her taxable income. So idk I got confused not sure if i'm right.I thought it was pretty easy.. Only question i had trouble with was the tax question 27b (do you minus medicare levy from the thingy?) and 29e - the one where he decides to pay an extra $250
It has to be an annuity as he made constant repayments iirc. My value was like $285k or something so he was short about $15k.How are you meant to do the interest on that loan thought, I was getting around 900k with compound interest formula (and I think FV annuity formula was around same) can that be right? I wrote that he wouldn't reach it anyway.
I love you too now. <3 xoxoyeah that's what i did! They were short by like $14000 something
Did you use the first present value formula?The one where they repay an extra 250 a month you just add that value to M (in the annuity formula... I think the initial M was 2000 or so and then you simply added the 250) and figured out if it reached $300k in 20 years.
My answer was that it didn't.
haha aw i didnt get 60 but i got 2. hahaha ):I love you too now. <3 xoxo