Anna Whites has the following receipts and expenses for the year 2021/22. She is a tax resident of Australia.

Receipts

Salary - financial planner $80,000

Interest $5,000

Rental income $10,000

Entertainment Allowance $1,500

The following assets were sold. They are the only assets Anna has ever sold.

Sale of family home (22 February 2022) $150,000

The home was acquired on 18.7.91 for $110,000.

Sale of vacant land I (25 August 2021) $100,000

This had been bought on 1.1.85 at a cost of $25,000 with the intention of building her main residence. For various reasons this never occurred and when a good offer was received she sold the land.

Sale of one rental property (1 July 2021) $130,000

This property had cost $80,000 in June 1985. Anna had bought the property with the intention of renovating it and selling it at a profit.

Sale of shares I (10 November 2021) $51,000

These had been bought in February 2000 for $40,000. Brokerage on acquisition was $400 and brokerage on sale was $500.

Sale of land II (7 June 2022) $80,000

The land had been acquired in January 1990 at a cost of $85,000. Stamp duty cost $1,488.

Sale of shares II (26 January 2022) $10,000

These shares had been acquired in November 2020 at a cost of $9,500.

Sale of holiday house - settlement occurred on 1 July 2021 although the contract had been signed on 1 April 2021. $160,000

The land on which the holiday home was built had been acquired on 23 April 2000 at a cost of $30,000.

Stamp duty was $525. A house costing $130,000 was built in June 2000. Rates and taxes of $2,000 were paid in arrears when the house was sold.

Expenses

Bank fees on interest earning account $30

Commission to collect rental income $150

Entertainment of clients $800

Repairs:

new washing machine lid in rental property $120

total repainting of new rental property purchased on 30 June 2022 $1,800

repainting of the same rental property after the house was vandalised by the first tenants $1,900

Rates and taxes on rental properties $2,200

Annual subscriptions:

Financial Planners Association $140

Australian Engineers' Association $280

West Coast Eagles Football Club $130

Donations:

Australian Liberal Party $200

Royal Perth Hospital $300

Cost of travel to Financial Planners' Association's conventions $85

Registration costs of above conventions $790

Education expenses:

* Master of Business Administration expenses at a private university in Perth:

University fees $3,800

Travel to university for classes from home $300

Travel from university to work $199

Travel from work to university $260

Travel from university to home (travelled to university after work) $350

*Basket weaving course on Saturday afternoons:

Course cost $55

Travel expenses $122

Calculate Annas taxable income and net tax payable for 2021/22. Provide brief reasons for the exclusion of any items from the calculation.