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QUESTION 2 Damien is a foreign resident who holds 500 shares in IrriTable Furniture Pty Ltd, a resident company

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QUESTION 2

1. Damien is a foreign resident who holds 500 shares in IrriTable Furniture Pty Ltd, a resident company. The company paid a fully franked dividend of $3.50 per share on 1 June. What amount can Damien claim as a tax offset for the year?

   		$1,750
   		$750
   		Nil
   		$2,500

2. QUESTION 3

3. Harper has $200,000 in her superannuation fund, and her fund is in the accumulations phase. Harper’s employer contributes $10,000 during the year. The fund has distributed Harper’s $200,000 into various investments and makes a gain of $25,000 for the current financial year. This gain consists of $15,000 interest and $10,000 in capital gains from the sale of assets that had been held for more than 12 months. What is the tax payable for the superannuation fund for the financial year?

   		$5,250
   		$1,500
   		$4,750
   		$3,250