On 31 August 2019, Barry travelled to London to attend the annual journalists conference held by the International Journalists Association (IAJ), which was held from Monday 2 September 2019 to Wednesday 4 September 2019 inclusive.

The purpose of this conference is to update journalists on the latest journalism research techniques, ethics for journalists and the use of new and emerging technology in reporting and journalism.

Barry believes that the three-day conference will prove to be very useful for keeping him up-to-date on aspects of journalism that relate to his job.

Barry personally paid all of the following costs relating to the conference (all amounts are expressed in Australian dollars):

                                                                                                                                           $

• travel insurance                                                                                                             210
• economy class airfare from Brisbane to London and back                               2,860
• 3 nights accommodation at the London Sofitel St James *                               1,990
• phone calls home to Natasha and the kids from hotel phone in room                   36
• IAJ conference registration fee                                                                               1,440
• meals for three days while attending the conference                                           215
• meal and drink bought at Singapore airport

      (which was a two-hour stopover en route to London)                                   32

• taxi fares to and from airports                                                                               264
• ticket to the musical Jersey Boys in London                                                        120
• 
  

*           When Barry checked into The London Sofitel St James, he initially booked into a standard room for three nights. The cost of the standard room for the three nights was $1,450. However, when checking in at reception, he was offered the opportunity of paying an extra $180 per night (total of $540) to upgrade from a standard room to a deluxe room. Barry proceeded to do this and paid a total of $1,990 for the three nights.

            The dates of Barry's flight was departing Brisbane on Saturday 31 August 2019 and arriving in London on the morning of Sunday 1 September 2019. Barry departed London immediately after the conference on the afternoon of Thursday 5 September 2019 and arrived back in Brisbane on Saturday 7 September 2019.

Barry advises you that he has kept receipts for all of the above expenses and has kept the appropriate travel diary for taxation purposes.

Arguably, some of these expenses could be claimed at Item D5. However, for the purposes of this assignment, if students consider any of the above amounts tax-deductible, please include the relevant amounts at Label D2 of the tax return.

In other words, do not include amounts shown at Item 11 above at any other label of Barry’s tax return (for example, Items D4 or D5).

During the entire 2020 income year, Barry worked solely for The Brisbane Telegraph Ltd.

Barry provides you with the following information that he downloaded from his MyGovID portal which summarises payroll information from his employer in relation to the period 1 July 2019 to 30 June 2020.

The information contained on his 2020 Income Statement is summarised below:

            

            Name of Payer:                                                          The Brisbane Telegraph Ltd

            ABN of Withholder:                                                   13 090 861 509

            Gross Salary:                                                             $142,700

            PAYG Tax Withheld:                                                 $36,144

            Reportable Fringe Benefits Amount:                      $5,125

            Reportable Employer Superannuation

            Contributions:                                                           $6,500

The reportable fringe benefit amount of $5,125 shown above related to a salary-sacrifice arrangement that the firm has in place with all of its senior journalists. Barry arranged for The Brisbane Telegraph Ltd to pay several personal expenses on his behalf. These expenses were all subject to fringe benefits tax.

Determine assessability and deductibility income

Then please calculate the assessable income for the financial period 2020.

if this information is relatable:

The Brisbane Telegraph reimbursed Barry 60 cents per kilometre travelled. Hence, Barry received reimbursements totalling $4,338 during the 2020 income year. PAYG withholding tax of $1,974 was deducted from this amount.