please show the formulas (eg. Income tax=taxable income*tax rate-tax offset)

Joseph and Amy are a couple. They have been in a permanent relationship for the past seven years and they have been living in a riverfront unit in Brisbane for the past five years. They are not married. Joseph is a tax adviser with his own private practice, Joseph Smith Tax Advisory Services. For the 2016-2017 income year his practice's tax records show the following (exclusive of Goods and Services Tax, 'GST): Turnover, services provided to clients, assessable income 1,230,000 Tax deductible expenses: Rent, council rates and taxes $235,000 $650,000 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 45,000 Joseph also received the following assessable investment income during the income year: Bank interest 40,000 During the income year, Joseph transferred PAYG payments of $60,000 to the ATO as prepayment of his 2016-2017 income tax liability Joseph and Amy are a couple. They have been in a permanent relationship for the past seven years and they have been living in a riverfront unit in Brisbane for the past five years. They are not married. Joseph is a tax adviser with his own private practice, Joseph Smith Tax Advisory Services. For the 2016-2017 income year his practice's tax records show the following (exclusive of Goods and Services Tax, 'GST): Turnover, services provided to clients, assessable income 1,230,000 Tax deductible expenses: Rent, council rates and taxes $235,000 $650,000 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 45,000 Joseph also received the following assessable investment income during the income year: Bank interest 40,000 During the income year, Joseph transferred PAYG payments of $60,000 to the ATO as prepayment of his 2016-2017 income tax liability