Joseph is a UQ graduate and tax adviser with his own private practice, Joseph Smith Tax Advisory Services. He is single and has no private patient hospital in surance For the 2018-2019 income year, his practice's tax records show the following: Turnover for services provided to clients and bank interest received on business bank account, assessable income for tax purposes Tax deductible expenses: Rent, council rates and taxes, electricity and telephone Tax deductible expenses: Salaries paid to staff Tax deductible depreciation: Division 40 capital allowances on computers, furniture and other assets used in the business $1,230,000 $235,000 $650,000 $45,000 During the income year, Joseph transferred PAYG payments of $110,000 to the ATO as prepayment of his 2018-2019 income tax liability arising from his practice. During the 2018-2019, Joseph was also employed part-time at a listed company. His payment summary for the 2018-2019 include the following: Gross salary Reportable fringe benefits (but not assessable income) PAYG withheld from salary $35,000 $10,000 $5,000 During the 2018-2019 income year, he also receive dividends of $7,000 on shares that his father gifted to him. The franking credits totaled $3,000. The dividends and franking credits are both assessable income to Josh. He also rented out a unit in St Lucia. These are the relevant details for the 2018-2019 income year: $20,000 $25,000 Rent Tax deductible expenses Joseph's HELP loan balance at the beginning of the 2018-2019 income year was $8,000. You are required to: Calculate the taxes payable by Joseph at the end of the 2018-2019 income year. Show all calculations, present all formulas and bases in words and provide reasons for your