H& H Pty Ltd was found to be a PSE in receipt of PSI on behalf of Howard (director). Howard and his wife Holy are the two equal shareholders of H& H Pty Ltd.

Receipts and payments of the company for the 2019/20 tax year were as follows.

Receipts

Fees received $230,000

Payments

Salary Edwin $130,000

Salary Susan (receiving phone calls) $59,000

Superannuation Edwin $19,000

Superannuation Susan $18,000

Required

Applying PSI provision, calculate the taxable income for Howard and Holy.