James operates a business "The Daily Grind" specialising in coffee machine repairs and some sales of coffee related goods. The business premises also has a small cafe where he sells coffee to the public. The business has an ABN (28 096 278 581) and is registered for GST. You have previously advised him that the business qualifies for SBE concessions, and several were used in prior years including the SBE concessions for depreciation and for trading stock. As the business has used cash based accounting in prior years the tax return is to be prepared using this method. James does not wish to use temporary full expensing and an instant write-off threshold of $30,000 is correct for all asset purchases.

The Daily Grind's depreciable assets have previously been allocated to a general small business pool. The balance of this pool as at 1 July 2021 is $32,000. During the year ended 30 June 2022 the following business assets were purchased:

Description	Original Cost ($) Ex GST	Taxable Purpose %
Rancilio Classe 10 (coffee machine for use in caf)	$33,500	100%
Mazzer Super Jolly Auto Grinder (grinder for use in caf)	$990	100%
Service van (motor vehicle, used in partly for business purposes)	$43,000	50%

a) Calculate the General SBE Pool deduction for year ended 30 June 2022 and the closing balance of the General SBE pool at 30 June 2022. General SBE Pool Opening Balance + additions - disposals - depreciation 15% 30% = Closing Balance

James's records show that the following income was earned and expenses incurred for the financial year (note all amounts shown are GST exclusive):

$
Repairs income - (cash receipts)	80,500
Caf income - (cash receipts)	38,000
$118,500

Advertising	5,600
Accounting fees	600
Bank fees	378
Insurance - business	870
Purchases	2,750
Licences & fees	7,950
Telephone - Mobile (100% business use)	1,640
Interest on loan	1,500
Total expenses	$21,288

Additional information:
Trading stock at 30 June 2021 at 30 June 2022	4,000 6,000
Assets purchased Refer to Question 7, Part A for depreciation to be claimed

b) Calculate the Taxable Income for James attributable to his business Daily Grind for the year ended 30 June 2022. Show your calculations.

Assessable Income - Allowable Deductions = Taxable Income