Reference no: EM132979460

Dr Sabrina Moss, a self-employed dentist who operates her business as a sole  practitioner (employing a receptionist and a dental nurse) provides you with the following information to prepare her taxation return for the year ended 30 June  2019:

Cash received from patients in the tax year $650,000
Private Health Fund payments for services provided to patients $135,000
Account receivables as at 30 June 2018 $35,000
Account receivables as at 30 June 2019 $20,000
Salaries paid to employees in the tax year $43,500
Other expenses paid (assume deductible) $78,000

Required:

Problem 1: Discuss the taxation implications for Sabrina.