QUESTION 2 - (15 MARKS) A new client, Mary, is your first client. She needs to lodge his income tax for 2021/22. Further, she wants to know about some tax-related provisions and practices. She asks some questions - what are the differences between taxable income, ordinary income, and statutory income? What types of ordinary and statutory income do not constitute assessable income? (Maximum 700 words) Furthermore- She gave her annual income and deduction below. Calculate her Total Assessable Income, Taxable Income, Tax Liability, Medicare Levy and Medicare Levy Surcharge, if applicable, for the taxpayer (Mary) with the information below: Mary is a resident single mom with one dependent child (4 years old) taxpayer of Australia for the tax year 2021-2022 Her Taxable Salary earned is $110,000 (Including tax withheld) having no private health insurance. She had a $12,000 deduction. Mary has a student loan outstanding for his previous studies at Queensland University of $32,000. Marys employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. Mary earned a passive income of $5,000 from the investments in shares in the same tax year. Hint: The following website can be used to cross-check your answers but you need to provide detailed calculations, rates and explanations of rates from ATO website.