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  8 Pages 2000 Words

 Business Management

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Identify and discuss the characteristics of a “good” tax system. 5.    How is income tax liability calculated1.    Mary is a resident who is 50 years old and has $170,000 of taxable income for the year ended 30 June 2015. Calculate her income tax liability. How much tax would she pay if she was a non-resident?2.    Mr Lim, a resident Australian taxpayer, has a taxable income of $55,250 for the year ended 30 June 2015. He qualifies for a me ...

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