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Dr TTR, a single Australian resident, is a high profile researcher at Murdoch University earning a salary of $150,000. Apart from her time at university,

Dr TTR, a single Australian resident, is a high profile researcher at Murdoch University earning a salary of $150,000. Apart from her time at university, TTR also has a part time job as a consultant at Woodside Energy Pty Ltd where she earns a salary of $55,000. She provides you with the following information during the current tax year, 30 June 2022: 1) TTR uses her own car to travel to various locations to conduct experiments. She acquired the car on 1 October 2019 for $50,000. The acquisition cost was funded entirely by a loan at an interest rate of 10%. TTR has maintained all necessary records and a logbook. TTR incurred expenses on the car. These include: -registration and insurance $2,000 -repairs $2,800 -fines $500 For the year ending 30 June 2022, TTR estimates that the car travelled a total of 30,000 kilometres, 12,000 of which were for business purposes. 2) Sometimes TTR catches the train or taxi and has incurred various costs that can be substantiated with receipts. The following costs were incurred during the financial year: Total train fare from home to Murdoch University - $220 Total train fare from Murdoch University to Woodside - $330 Total taxi fare from Woodside to home - $550 3) TTR spent $500 on two new suits for her work presentations. 4) Qantas membership valued at $500 was paid by Murdoch University. 5) TTR purchased $50,000 worth of shares in a small mining company on 1 November 2017. On 1 February 2022, the company declared and paid an interim dividend of $1,000, which was fully franked. TTR sold the shares on 28 June 2022 for $60,000 with the cash being transferred on 1 July 2022 to her personal bank account. She pays brokerage fees of 5% on both the purchase and sales values. 6) TTR travelled to Singapore for a 5 day work related conference in December 2021. She incurred expenses of $2,000 on the plane ticket and $500 on hotel 5 days hotel accommodation expense, both being paid personally. Murdoch University provided TTR with reimbursement for food costs of $100 while attending the conference. TTR stayed on for an additional four days at her parents home after the conference. Required - Calculate the capital gains tax for the current income tax year. Show all workings.

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