CASE STUDY $$ VERSION $1$ Angus Berger is a single resident taxpayer who is employed as a gardener by Jim$$s Mowing. Angus also holds investments including shares and real estate and has provided details of transactions that he believes relate to the $2023$ income year. You are required to provide the following information to assist with the preparation of Angus$2023$ income tax return: PART A Calculate Angus$$ Net Capital Gain. Identify the relevant section reference for any exemption or exclusion. Clearly outline all steps in the calculation. PART B Calculate Angus$$ Assessable Income. Identify the relevant section reference for each inclusion or exclusion. Clearly show all necessary workings. PART C Calculate Angus$$ Allowable Deductions. Identify the relevant section references for each inclusion or exclusion. Clearly show all workings. Apply any available alternatives to obtain the maximum deduction available. PART D Calculate Angus$$ net tax payable or refund due. Clearly show all workings. RECEIPTS DURING $2022/23$ DATE DESCRIPTION $ FULL YEAR Net Salary NOTES $87,500$ PAYGW totalled $ $24,500$ FULL YEAR Rent from property in Adelaide $24,000$ Includes $$3,500$ of rent for July & August $2023$ FULL YEAR Clothing allowance $40015/07/22$ Dividend from Hard Rock Ltd $4,900$ Fully franked at $30\%$ tax rate $28/08/22$ Reimbursement of work travel costs $750$ Relates to accommodation in Melbourne $05/09/22$ Proceeds from sale of shares in Iceberg Ltd $6,000$ Originally purchased in $2019$ for $$8,50012/12/22$ Dividend from Soft Shell Ltd $2,80020\%$ franked at $30\%$ tax rate $20/12/22$ Proceeds from Lotto win $5,00005/01/23$ Proceeds from sale of artwork $500$ Originally purchased in $2018$ for $$2,000.$ Sold to son$-$in$-$law. Market value of $$14,000$ at date of sale $26/05/23$ Proceeds from sale of shares in Helium Ltd $10,000$ Purchased in July $2022($refer to payments$)18/06/23$ Proceeds from sale of car $12,500$ Originally purchased in $2017$ for $$41,000$ OTHER INFORMATION On $1$ May $2023,$ Angus scrapped his uninsured boat as it was damaged and unable to be used or sold. The boat had cost Angus $$15,000$ in $2015.$ Angus had capital losses of $$8,000$ carried forward from the sale of an apartment in $2019.$ PAYMENTS DUR

ING $2022/23$ DATE DESCRIPTION $ FULL YEAR Private Hospital Insurance Premiums NOTES $3,000$ Reduced premium option taken FULL YEAR Childcare Fees $15,000$ Necessary to allow Angus to work FULL YEAR Gardening supplies $170$ No receipts kept. Amounts each less than $$10.$ FULL YEAR Mobile phone account FULL YEAR Income Activity Statement instalments paid $800$ Records indicate $75\%$ work related $12,000$ PAYGI $08/07/22$ Purchase of shares in Helium Ltd $4,000$ Sold in May $2023($refer receipts$)22/07/22$ Purchase of compulsory uniform $350$ Registered design; required by employer $01/10/22$ Repainting of damaged doors at rental property $30001/10/22$ Replacement of damaged wall with ceiling to floor glass at rental property $4,00001/11/22$ Payment of annual council rates $5,000$ $$2,600$ for private residence; $$2,400$ for rental property $01/02/23$ Purchase of mower for work use only $1,500$ Effective life of $5$ years $13/04/23$ Parking fine incurred while at client$$s premises $120$ OTHER INFORMATION a$)$ Although supplied with a work vehicle, Angus was required to use his own car on several occasions amounting to $1,400$ kilometres travelled from home to work and $3,900$ travelled between clients. b$)$ Angus estimates that he washed his compulsory uniform four times per week separate from his other clothes.