During 2017-2018 Income year, John, an Australian resident earnt wages of $120,000 and his
employee has deducted $15,000 in PAYG withholding tax deductions. Additionally, he received
$15,000 in rent from his investment property which he purchased in 2014. Finally, he received an
additional $10,000 as a bonus from his employer for exemplary performance. John has $8,000 in
deductions. He has private hospital cover during the income year and can claim a tax offset of $1,500.
What is John's income tax payable for the financial year ending?
A) 24,562
B) 21,822
C) 23,322
D) 36,822
E) 27,632