Question
Assume that you are a tax agent and at the end of the current financial year one of your clients, Sarah Smith, has come to
Assume that you are a tax agent and at the end of the current financial year one of your clients, Sarah Smith, has come to you for assistance with preparing and filing a tax return. Sarah is employed as a Business Manager by a large IT firm also works for home for the company two days a week. Due to her heavy work commitments has not organised her tax documents and matters. She currently earns $85 500 per annum and has had $18 250 PAYG withheld from her gross income. Rebecca also received an unfranked dividend from her personal BHP shares of $7500. After sorting through the shoebox that holds all of Rebecca's paperwork, you have uncovered the following receipts and expenses; Professional association membership $480 Phones used for business purposes $650 PR and client relationship $900 Home office expenses (stationery, electricity, $2,800 internet, printer consumables) Bank interest earned from deposits $1,200 Sarah also advised that she had additional self-education expenses of $2,800, but could not locate the receipts. Sarah had private health insurance for three months during the assessment period. Sarah is single and has no dependents. Sarah often works from her home office and she is also required to travel on a daily basis to various work clients to service their computer systems. Sarah has not kept a log book with her kilometres. She drives a Toyota Corolla which has a 1300-cc engine. Among her p
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