Question 3 Hamilton Longman, an Australian tax resident, works for a large engineering company. He also owns several patents that he designed when he studied engineering in the 1990s. At the end of the 2018- 2019 income year, Hamilton's employer issues him with a Payment Summary detailing the following: Gross salary, $125,000. PAYG remitted to the ATO, $45,000. Reportable fringe benefits, $12,000. During 2018-2019 income year, Hamilton issued invoices totalling $20,000 to four businesses for royalties owing to him. The royalties related to long-standing contracts that allow these businesses to manufacture goods using his patents. As at 30 June 2019, $4,000 of the invoices remained unpaid. He also received an equivalent $3,000 in interest from a bank term deposit that he held with a bank in Kenya. This amount was paid into his bank account on 1 June 2019 after the bank in Kenya deducted withholding tax equivalent to $500. There is no tax treaty between Australia and Kenya. During the income year, Hamilton also received a fully franked dividend of $720 from ZPT Ltd, the largest property development company in Australia. He does not have any private patient hospital insurance. He is single. You are required to: a. late Hamilton's taxable income for the 2018-2019 income year. Show all your calculations and provide reasons for your answers, referencing relevant sections of the ncome Tax Assessment Acts, relevant case law or rulings from the Australian Taxation Office. Calculate the value of all the tax offsets Hamilton is entitled to for the 2018-2019 income year. Show all your calculations and provide reasons for your answers. b