Answer to Q$-11\mathrm{.}3($Adjusted taxable income$)$

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Monty, a resident taxpayerprepare tax documentation for individuals edition $18$ solution QUESTION $11\mathrm{.}3(Adjusted$ taxable income$)$

Monty $is$ a resident taxpayer. During the year, Monty had the following

receipts and payments:

Receipts

Gross income from mowing lawns

Gross income from child minding

Payments

Personal Superannuation Contribution $-$ deductible

Donation $-$ Red Cross

Monty used his car $to$ drive $to$ and from child minding and lawn mowing

jobs. This amounted $to$ a total $of5,200$ 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.$to$ question $11\mathrm{.}3$QUESTION $11\mathrm{.}3(Adjusted$ taxable income$)$

Monty $is$ a resident taxpayer. During the year, Monty had the following

receipts and payments:

Receipts

Gross income from mowing lawns

Gross income from child minding

Payments

Personal Superannuation Contribution $-$ deductible

Donation $-$ Red Cross

Monty used his car $to$ drive $to$ and from child minding and lawn mowing

jobs. This amounted $to$ a total $of5,200$ 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.