Individual Tax

In 2018/2019 financial year, one of your clients, Alex comes to you to do a tax return for him. He wishes to minimize his tax liability. He provided you the following information: (Note: the records are GST exclusive) Receipts: $60,000 Net Salary Payment (after withheld $20,000 tax) $1,000 dividend from a public listed company (fully franked) $1,000 dividend from a small business entity (60% franked) $36,000 income from the investment property located in Sandy Bay $5,000 partnership distribution as he is a partner in a dining car near UTAS $50,000 winning from Wrest Point Casino as he is excelled at Math $300 voluntary sponsorship from a local TV as he is a registered football player $100 gift card sent from his clients as he did the client a favour $12,500 sale of his shares to a close friend for 50% of its market value ($30,000 bought in 1 Oct 2008) $2,000 sale of his newly bought iPhone XS ($2500 bought on 1 Oct 2018) $600 sale of one sculpture (3 sculptures as a set bought at 1 Oct 2018 with each one cost $300) $1500 compensation for personal injury $100,000 Coles Flybuy Points(2000 points = 10 dollars) Expenditure: $1,000 Interest on loan from ANZ (loan term 4 years 60% the loan was used to purchase shares,40% of the loan was used to purchase a holiday package to Fiji) $1,200 loan establishment fee for ANZ loan (on 1 March 2019) $1,800 Interest on another loan from CBA(loan term 3 years, 100% of the loan was used to purchase shares, but no dividend received in 18/19 tax year) $1,500 loan establishment fee for CBA loan (on 1 April 2018) $1,000 consulting fees paid to his lawyer in terms of his tax affairs $800,000 paid for an investment house bought in 1 August 2018 while the cost of the house is $400,000 based on a professional quantity surveyor $100 donation paid to TAS Red Cross in exchange for chocolates (worth $2) $2,200 paid to buy a Mac Book (bought on 15 Dec 2018, 100% for Work related purpose, estimated effective life: 5 years) $250 a second-hand furniture for the investment property $100 laundry expense for his suit $200 paid to buy 3 purely green suits due the requirement of his company $90 bus fees as he sometimes goes to work by bus $25 parking penalty at UTAS parking lot Car expenditure: Fuel $ 3,000 Car service 1,480 Four new tyres 1,300* Car washes 1,450 Registration 450 Insurance 1,265 Depreciation 6,000 GPS accessories 1,000* His logbook shows Travel from home to work and back 25,000Km Other work-related travel 22,000Km Travel to do her shopping 12,000Km *$1,300 Four new tyres replaced based on the suggestion of his mechanic *$ 1,000 a new GPS accessories for the car as the old one is old fashioned In addition, Alex have $1,000 tax loss from previous tax year. $2,000 capital loss from a sale of a sculpture from previous tax year.Assume that all expenses include GST where relevant.Alex does not have any health insurance.Alex does not have a HECS/HELP debt. Calculate the tax liability or refund for Alex.