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100% QUESTION COMA) Part B (5 Marks) One of Suman's customers bought some computer equipment for $27,000 on credit on 21 June 2020 but could

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100% QUESTION COMA) Part B (5 Marks) One of Suman's customers bought some computer equipment for $27,000 on credit on 21 June 2020 but could not pay the account, which was issued on the 30 June 2020. The customer went bankrupt in December 2020. Suman wrote off the debt on 1 June 2021. In February 2021, Suman was awarded workers compensation for $375,000 for the serious injuries sustained from his workplace from the insurance company In April 2021, Suman decided to use the compensation money to purchase an apartment for $550,000. He lived in the apartment for 12 months then rent it out Suman engaged a managing agent to manage the apartment and pays the agent 7% of his rental income of $5,500 for the agent's commission for 30 June 2021 In June 2021, Suman decided to take a night off and go to Star City Casino. It was his lucky night. He won $250,000 playing the card game "BlackJack". His friends told him it was "beginners luck". But beginner luck quickly took a wrong turn in bad luck when he lost the entire $250,000 in playing the pokles machines in the next few weeks Suman had to lodge a tax return for the year ended 30 June 2021 and sook your advice as to how to calculate his taxable income. Woolworths_annu..pdf doc & ENG 10 In April 2021. Suman decided to use the compensation money to purchase an apartment for $550,000. He lived in the apartment for 12 months then rent it out. Suman engaged a managing agent to manage the apartment and pays the agent 7% of his rental income of $5,500 for the agent's commission for 30 June 2021 In June 2021, Suman decided to take a night off and go to Star City Casino. It was his lucky night. He won $250,000 playing the card game "BlackJack". His friends told him it was beginners luck". But "beginner luck quickly took a wrong turn in bad luck when he lost the entire $250,000 in playing the pokies machines in the next few weeks. Suman had to lodge a tax retum for the year ended 30 June 2021 and soek your advice as to how to calculate his taxable income. Explain how you would account for these events from the perspective of the Income Tax return for the year ending 30 June 2021. 4 Page

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