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464 PREPARE TAX DOCUMENTATION FOR INDIVIDUALS QUESTION 11.3 (Adjusted taxable Income) Monty is a resident taxpayer. During the year. Monty had the following receipts and
464 PREPARE TAX DOCUMENTATION FOR INDIVIDUALS QUESTION 11.3 (Adjusted taxable Income) Monty is a resident taxpayer. During the year. Monty had the following receipts and payments: Receipts Gross income from mowing lawns $ 9,200 Gross income from child minding 1,400 Payments Personal Superannuation Contribution deductible 500 Donation Red Cross 20 - Monty used his car to drive to and from child minding and lawn mowing jobs. This amounted to a total of 5,200 kilometres. - Monty also had a mower that he used to generate income. Decline in value on the mower amounted to $250. - During the year, Monty had a net capital gain (after discount) of $700 from the sale of shares. Calculate Monty's adjusted taxable income. QUESTION 11.4 (Adjusted taxable Income) Paris is a resident taxpayer. During the year. she had the following receipts and payments: Receipts Gross Wages from a parttime job as a cashier $1,800 Unfranked dividend from ABC 200 Parttime wages from the Army Reserve 5.300 Payments Course fees and textbooks 420 (Paris is studying to become a librarian) Travel to and from the librarian course 290 - Paris also had a net capital loss of $400 from the sale of her ABC shares. Calculate Paris's adjusted taxable income
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