Exercises to determine tax outcomes

We’ve provided the income figures opposite for you to practise calculating some tax outcomes.

Using the same income figures for each, use your calculator to work out the taxable income for the following structures. 

• individual
• two person partnership
• a company
• a super fund

After that, see if you can work out the tax payable for each as well. None of the entities generate business income so the small business tax concessions do not apply.

Calculate your answers before moving on and then we'll work through the model answers.