Using the Information Included in Table 13

question 4

Essay

Using the information included in Table 13.13 of the chapter, calculate the 2014 seniors and pensioners tax offset (SAPTO) entitlement, if any, to the nearest dollar for Max and Kate Teakle, both individually and as a total for the couple. Max and Kate have been married for over 35 years and each are eligible for the SAPTO benefit. The following information has been provided for Max and Kate for the 2014 financial year:
$\begin{array}{lrr}\text { Details } & \text { Max (\$) } & \text { Kate (\$) } \\\text { Taxable income } & 30,009 & 29,500 \\\text { Reportable fringe benefits } & 2,501 & 1,550 \\\text { Reportable employer superannuation } & 4,000 & 2,500 \\\text { contributions } & & \\\text { Net investment losses } & 2,200 & 2,200\end{array}$

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Definitions:

Conscientious

Describing a person who shows diligence and a willingness to do what is right.

Neurotic

A term relating to neurosis, involving long-term tendencies to experience negative emotional states like anxiety, depression, or irritability.

Introverted

Describing a person predominantly concerned with their own thoughts and feelings rather than with external things.

Extraversion

A personality trait characterized by orientation towards the external environment and enjoyment from engaging in social interactions, as opposed to introversion.