From the following, you are required to work out Anne's taxable income for the income year ended 30 June 2021, giving brief reasons to support your calculation. Anne is an Australian resident adult individual taxpayer entity and recent divorcee who is employed in Adelaide by Comp soft Pty Ltd as a computer systems analyst. Her employment duties involve designing and analysing office computer systems, including researching how such systems are used, and identifying ways to improve their use and efficiency .During the income year ended 30 June 2021, Anne received and derived

:(1)Wages totalling $90,000 from Comp soft Pty Ltd. Anne has received an Income Statement that shows the company withheld from the wages a total of $20,000 in Pay As You Go (PAYG) tax instalments. The total net amount of $70,000 was deposited into her bank account. $90000

(2)A cash bonus of $10,000 from Comp soft Pty Ltd. This has been received by Anne under the company's employee incentive scheme on the achievement of a target of revenue earned. No PAYG tax instalments have been withheld from this amount. $10000

(3)An amount totalling $2,000 paid to her by Comp soft Pty Ltd as a reimbursement of car expenses incurred by Anne. This amount was reimbursed by the company on the basis of 50 cents per kilometre travelled by Anne in her Mazda 6 sedan car for work purposes.

(4)Interest totalling $1,000 on a cash management bank account held by Anne with ANZ Bank Ltd, an Australian resident company.

(5)Franked dividends of $1,400 paid to her in respect of shares Anne owns in ANZ Bank Ltd, an Australian resident company. Her Dividend Statements show franking credits of $600 on the franked dividends.

(6)The amount of $50,000 from the sale by Anne of a BMW car that she acquired and received as a prize from winning a charity lottery. She bought the $2 winning ticket in October 2020and the prize was drawn in December 2020. When Anne acquired and became the owner of the car, it had a market value of $50,000. She sold its soon as she could for $50,000 under a contract entered into on 1 January2021as she thought it might lose value over time. She then paid the $50,000 off her home mortgage.

During the 2021income year, Anne paid and incurred these outgoings:

(1)Fees totalling $1,000 paid over the income year for her membership of a workplace union for that year. This membership gives Anne various workplace benefits, of which the main benefit is the union's assistance in gaining better pay. The amount was paid from her after tax weekly wage payments and is shown on her Income Statement. ($1000)

(2)$1,664for private health insurance that provides basic private hospital cover for Anne that will compensate her for private hospital and medical costs incurred by her. This amount already takes into account the private health insurance tax offset by way of a $334reduction in the $2,000original cost of the premium payable for the cover. The $1,664amount was also paid from her after tax weekly wage payments and is shown on her Income Statement. $1664

(3)Car expenses totalling $4,000 in respect of a Mazda 6 sedan car owned by Anne. These non-capital car operating expenses consisted of:(a)$1,500 for petrol and oil;

(b)$1,500 for registration and insurance; and

(c)$1,000 for repairs.

The car was bought by her on 1 July 2020at a total cost of $40,000 and has a non-rotary engine with a capacity of 2,300 cc. Annehas not kept a log book in respect of the use of her car but has kept receipts for the expense asset out in (b) and (c). She estimates from established travel patterns that she has travelled 5,000 kms for work purposes. This total includes an estimated 1,000 kms for which she had not claimed reimbursement from her employer. (70c*4000 km=$2800)

(4)Expenses totalling $3,000 in attending the annual conference of the South-East Asian Regional Computer Analysts Association held in Vanuatu. These expenses consisted of:(a)$600 for conference registration fees,(b)$1,000 travel costs, and(c)$1,400 for accommodation and meals for 8 days,all of which were of a non-capital nature. Anne has kept receipts and travel records for the expenses. The conference provides an occasion to get an update in the latest developments in computer systems analysis, which Anne directly applies in performing her work duties. She believes that making this extra effort to keep up to date will improve her prospects of getting promoted based on Comp soft Ltd's criteria for promotion. The conference was held over a 4 day period, but Anne extended her stay for a further 4 days for recreational purposes. ($1000+$600+$1400/2)

(5)Payments totalling $2,000 for interest on a loan of $30,000 that Anne had borrowed and used to fund the purchase of her shares in ANZ Bank Ltd. The loan is "interest only" and does not require any repayment of the $30,000 capital borrowed until the end of the loan period. ($2000)

(6)$1,000as a final payment of what remained of Anne's Student Assistance HELP debt from when she studied computing and information systems as an undergraduate at University.

(7)Payments totalling $10,000 paid to her former husband, Tom, on account of maintenance payments for him and two children aged 16 and 17 years of their marriage .Anne and Tom are divorced and living apart.