John Paul is employed by China Electricals and Japan Auto Parts and Garnishing. His primary employment is a sales representative in China Electrical while his secondary employment is a part time consultant in Japan Auto Parts and Garnishing. John Paul receives $350,000 salary from his primary source of employment, while he receives $100,000 from his secondary source of employment. He donated $56,000 to Fiji Cancer Society, $11,000 to University of Fiji and $18,000 to Project Heaven Trust. His primary employer contributes 14% to his FNPF account. China Electrical deducted a tax of $63,600 while Japan Auto Parts and Garnishing deducted $5,000 at source. Additional Information: • John Paul also received interest on 31st December, 2022 on his fixed deposit account at HFC Bank. HFC Bank pays 5% interest per annum on fixed deposit accounts however the bank has not deducted any tax on the amount of interest paid to John Paul. • John Paul has invested $200,000 in his fixed deposit account at HFC bank on 1st June, 2022.
REQUIRED: Compute the Income Tax payable or refundable for the income year 2022
