How much is taxable income

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Reference no: EM132945437

Mrs A, a single mum with two children, would like you to assist her to prepare her tax return for the 30 June 2021 tax year. She has presented you with the following list of items.

Payment summary from Company B - 87560
Payment Summary for casual work from Company C - 48179
Payment for attending a casual work conference - 7536
Reimbursement for expenses at the casual work conference - 2000
State lottery winnings - 1000
Net capital gain on shares sold during the year - 7446
Dividends received - 6811
Compensation for loss of wages due to an injury at her casual job - 1000
Interest from a bank term deposit - 1000
Money from selling eggs that her chickens laid to her friends - 500
General work deductions - 10000
Deductions that are not allowed for tax purposes - 5000

Problem 1: She had private insurance from 1 January 2021 and a HELP debt of $20,000. How much is her taxable income? (enter the whole number without sign and symbol)

Reference no: EM132945437

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