Calculate simons assessable income

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Reference no: EM133472332

Case: Simon Temphire lives in Adelaide where he owns numerous residential rental properties. The following information relates to Simon's tax affairs for the income tax year ending 30 June 2023. Simon is not a tax expert, so he has asked you to complete his tax return.

Rent received from tenants $87,000

Prepaid rent at 30 June 2022 2,500

Prepaid rent at 30 June 2023 3,500

The rental agreement between Simon and his tenants provides that tenants must pay their rent one calendar month in advance. All rental agreements are for a fixed term and cannot be cancelled unless by mutual agreement between Simon and the tenant. calculate Simon's assessable income for the year ended 30 June 2023. Simon is NOT registered for the Goods and Services Tax.

Reference no: EM133472332

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