Neil is an Australian Resident. He bought a rental apartment in Sydney on 1 July 2022. The apartment cost him $800,000 and he obtained a loan from WestPacific Bank of $650,000. He immediately listed the property as available for rent. He received $40,000 in gross rent for the year ending 30 June 2023. In that same year, he has also had to pay the council rates of $3,500, Water rates. $2,000 and body corporate levies of $3,500. He also paid $3,000 to setup the loan (which is only a 2 year interest only loan and will need to be re negotiated after that time. His interest on the loan for the financial year ending 30 June 2023 was $30,000. He carried out the following work on the property: Replaced the stove for $2,000 on 2 Jan 2023 that after it was broken by his tenants. Repaired a balcony for $3,500 on 14 June 2023 that was damaged after a storm on 10 June 2023. Required: Calculate the income and deductions that are applicable to these facts. You must explain how you would deal with each item on the following checklist and provide the amount that should be added or