|
Homework 9 March 2014
Income
Gross salary $34,890
PAYG withheld $3,792
Gross interest received $4,207.23
Gross rent received $23,180
Unfranked dividend received $3,823
Expenses
Work related expenses $250
Tax agent fees $110
Following expenses related to rental property
Strata fees $4,090
Water rate $874
Council rate $1,230
Agent fees $1,780
Maintenance $800
Depreciation $8,921
Capital works $2,145
Interest on loan $18,067
Following expense related to car expenses
Toyota 2,500cc
Log book is not kept.
The taxpayer estimates about 2,930 kilometres travelled between work and clients’ places and 3,400 kilometres between main work place and home.
Petrol cost $900 for the whole year.
From the above information, record all income and expenses in the right places. Just ignore even if the tax appears to be an error. Practice to be familiar with income and expenses items.
|
|