Solution-Calculate his taxable income or loss to be carried

Calculate his taxable income or loss to be carried forward

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Reference no: EM133071643

Question - Pat Benson is a resident taxpayer and owner of a new music shop who also derives income from property and share market investments.

From the following information calculate his taxable income or loss to be carried forward each year.

	2019 ($)	2020 ($)	2021 ($)
Music shop Net Income (Loss)	(8,000)	(4,000)	2,000
Net Capital Gain	2,000	25,000	30,000
Net Rental Income (loss)	(15,000)	(18,000)	(17,000)
Gifts to Approved Charities	6,000	7,000	1,000
Wages - Part Time Army Reserves	2,000	2,000	3,000

Reference no: EM133071643

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Calculate his taxable income or loss to be carried forward

Reference no: EM133071643

Reference no: EM133071643

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