16.000 Interest from a bank account Payments (S) 2,000 Accounting expenses for tax return 10.000 Repairs to investment properties 4,000 Interest on a loan for the investment property 1,000 Legal expenses incurred in defending a claim by a tenant Kerry does not work and John is a senior tax lawyer and receives a salary of $130,000. He has two children. A son, Robert, aged 21 years, a student at university who earned $10,000. A daughter, Amy, aged 16 years, a full time high school student with no other income. The trustee exercised his discretion to distribute the income of the trust as follows: To wife, one-quarter To son, Robert, one-quarter To daughter, Amy, one-quarter The remainder was capitalised. Required: a) Calculate the net income of the trust for the year ended 30 June 2016. b) Explain how the income of the trust will be assessed