Joan Lee was a corporate lawyer for a large food processing company in Melbourne. She was retrenched as a revolt of a corporate reorganisation, and she left the company on 3 July 2015. Or 1 August 2016 she decided to be a financial adviser and not a lawyer. In order to achieve her zim, she undertook the following activities in the 2015 - 2016 financial year (1) Joan attended a financial planning course run by the Financial Planning Association This course took 12 weeks and cost her $8,800 (including GST). (2) She also buys a shelf company from her accountant for $1,980 (including GST) to operate her business. The name of the company is Joam Lee Financial Services Pty Ltd. On 1 November 2015 she is given a licence to operate her business as a financial planner. The following income was derived and expenses incurred in addition to the above by her from 1 November 2015 to 30 June 2016. Income of the Company Income from her licensed dealership 585.500 (This does not include commission for business that she had completed in June 2016. That amount was $6,600. Commissions are always paid the following month.) Expenses for the Company Referral fee paid to accountants $ 8,700 (The referral fee for the business written in June 2016 was $550. This amount was not paid until July 2016) Research expense from the fund managers $ 1,320 (To determine if their products are appropriate) Legal fees to prepare the lease of the office $ 330 Accounting fees $ 1,650 Acquisition of lap top computer $ 2,499 Fixtures and fittings for the office $ 3,750 (All the items were less then $5,000 each) Travel costs to see clients 870 Mobile phone bills 5 650 Prepaid maintenance on photocopier $ 1,320 (Period of maintenance was November 2015 to November 2016) Wages to secretary. Wendy Smith $35.000 Superannuateon for secretary $ 3.150 PAYG withholding for wages paid to Wendy (included in salary) $ 7.500 Stationery and postage $ 7,800 Professional Indemnity insurance 5 4.500 (Period of cover is November 2015 to November 2016) All of the above figures include GST where appropriate