capital gains question, page-18

"i) Do I pay 50% of this amount ($30,000 tax)"

No! $60 000 is your taxable income. You'll be taxed at the going rate($3,600 plus 30c for each $1 over $30,000
) which equates to around 21% tax. You'll never pay 50% tax because the highest rate is 45%.


"OR ii) Is the $60,000 classed as income tax? (Therefore the tax payable is much lower)"

Not classed as income tax, its classed as taxable income.