Base on Australia tax law

individual 92) TAXPAYER WITH RENTAL INCOME chaptr? Alf Ericsson, a resident Australian taxpayer, owns a house in Sydney from which delivers rental income. During the tax year, Alf had the following transactions in relation to the property. $ 26,660 Item description +Rent received (net of $940 agents commission) Water rates recovered Agents commission Lease preparation fee Bank charges Mortgage repayments (the amount includes $9,600 of interest.expense) 515 940 Lxp. 4 jnco 30 83 12,800 1,220 2,200 1,930 1,400 aeduchore Council rates Insurance Land Tax GST paid on expenses Repairs and maintenance Air conditioning (28 February 2019, effective life 0years) New light fitting (30 April 2019, effective life-5-years) 205 2,700 0 500 920 Water rates income dectuch on a) Calculate Alf's taxable income for the year ending 30 June 2019 b) After lodging his 2019 tax return, Alf receives a letter from the ATO stating that he needs to make quarterly PAYG instalments. Draft a response for Alf explaining the PAYG instalments concept, and the main reason why the ATO have said Alf neds to make PAYG instaiments.-uho naed mate When you are preparing the tax return for Alf, you ask for receipts to confirm all the deductions were incurred. Alf has all the receipts except for the air-conditioning and repairs. He didn't get a receipt from the suppliers as they offered a cheaper price if he made the purchase "in cash". He says that it is none of your business and you should still claim a deduction. c) aueg 14 TPo codeof profsSeial cendact Referring to the code of professional conduct, what are the key principles at risk in this scenario? What are the available options for responding to Alf, and which action will you take? L4 su deductihe male ncome any fhi'ng individual 92) TAXPAYER WITH RENTAL INCOME chaptr? Alf Ericsson, a resident Australian taxpayer, owns a house in Sydney from which delivers rental income. During the tax year, Alf had the following transactions in relation to the property. $ 26,660 Item description +Rent received (net of $940 agents commission) Water rates recovered Agents commission Lease preparation fee Bank charges Mortgage repayments (the amount includes $9,600 of interest.expense) 515 940 Lxp. 4 jnco 30 83 12,800 1,220 2,200 1,930 1,400 aeduchore Council rates Insurance Land Tax GST paid on expenses Repairs and maintenance Air conditioning (28 February 2019, effective life 0years) New light fitting (30 April 2019, effective life-5-years) 205 2,700 0 500 920 Water rates income dectuch on a) Calculate Alf's taxable income for the year ending 30 June 2019 b) After lodging his 2019 tax return, Alf receives a letter from the ATO stating that he needs to make quarterly PAYG instalments. Draft a response for Alf explaining the PAYG instalments concept, and the main reason why the ATO have said Alf neds to make PAYG instaiments.-uho naed mate When you are preparing the tax return for Alf, you ask for receipts to confirm all the deductions were incurred. Alf has all the receipts except for the air-conditioning and repairs. He didn't get a receipt from the suppliers as they offered a cheaper price if he made the purchase "in cash". He says that it is none of your business and you should still claim a deduction. c) aueg 14 TPo codeof profsSeial cendact Referring to the code of professional conduct, what are the key principles at risk in this scenario? What are the available options for responding to Alf, and which action will you take? L4 su deductihe male ncome any fhi'ng