Australian Taxation Law:

Brendan Rogers is an electrician and works as an independent contractor. He provides

you with the following information for the purpose of preparing his income tax

return for the year ended 30 June 2019.

- He received $150,000 as payment from clients for electrical services he

provided. During the year he also paid $45,000 PAYG withholding tax to

the ATO when he lodged his Business Activities Statements.

- He requested a client who owed him $3,000 for services he had provided in

May to have the full amount paid to a charity (Red Cross) on 2 June 2019.

- On 13 May 2019, Brendan received an iPad (market value $500) from one of his

clients. It was accompanied by a note thanking Brendan for his service.

- Upon the early and prompt completion of a job for a client, he received a

non-transferable voucher with a market value of $2,000 for a two-night

stay at a luxury resort on the 20th and 21st of June 2019. The client also

offered Brendan an all-expenses paid trip to the 'Melbourne Electrical Trade

Expo'. The Expo featured the latest technical developments and trade

products. The cost of the trip was $1,250.

- On 3 August 2018, Brendan sold some of his assets to finance the purchase a

holiday house. Details of the assets that he disposed of are as follows:

Asset Date of Cost Sale Proceeds acquisition Date of disposal 10,000 CBA shares 10 October 1996 20,000 3 August 2018 700,000 1984 MG sports car 9 October 1985 7,000 3 August 2018 60,000 Painting A 15 August 1987 2,200 3 August 2018 2,500 Painting B 20 September 1,200 3 August 2018 1,000 1998 Speedboat 25 August 1998 24,000 3 August 2018 16,000