Review question From the information supplied below prepare a statement to determine the taxable income and tax refund for J Jones for the year ended 30 June 201 7
J. Jones, an Insurance clerk with the X Insurance Co. Ltd, retired on 30 September 2016 at the age of 60, and Immediately took up permanent residence at Mackay (Zone B) in Queensland.
Deputiasts With the exception of Jones’ mother-in-law, who is resident in Italy, all other dependants reside in Australia. Except for Jones’ father, all dependants, including Jones’ mother-in-law, were wholly maintained by the taxpayer during the 2016/2017 tax year, except to the extent of their incomes and expenses stated below. i