Question Jane works in a large accounting firm. During the financial year, she received $200,000 for her services, $30,000 for travel allowance and $2,000 for parking reimbursement. She is also a member of the Australian Army Reserves and received $30,000 for her services. She also provided the following: She spent $100 in Sunday lottery tickets and, during the year, won $5,000. She received interest income of $1,000 from Westpac. She had a minor workplace injury and her employer paid $20,000 to compensate her loss of salary. Jane incurred the following expenses during the year. $400 speeding fines on her work duty. $2,500 paid to her housekeeper. She has a home office exclusively used for work purposes, which occupies 10% of the total floor area. Newspapers entitled Financial Times purchased to help advise clients on financial and investment matters, which costed $60 in total. The cost of $200 incurred biannually (January and July) for home phone answering services used to record calls while out. It is estimated that half of the calls recorded are private. $1,000 incurred in attending the International Congress of Accountants in Perth, including registration fee $150, hotel expenses $450 and fares $400. A donation of $80 paid to a local ambulance centre that is a registered gift recipient, on the stipulation that the taxpayer would be given, under a reciprocal arrangement among ambulance centres, free ambulances services in any locality in which the taxpayer subsequently resided. Travelling expenses totalling $250 incurred in using her own car between the accounting firm and the military base. Self-education expenses of: (1) HELP fees of $2,500, (2) university fees of $750, (3a) three books costing a total of $630 which were to be discarded after the year was over, (3b) one book costing $260 which was to be kept and used at work for five years, (4) photocopying and purchases of writing aids totalling $250, and travelling expenses from work to university amounting to $267. Legal fees totalling $12,000 incurred to defend her right to practise as a lawyer. A new black business dress costing $800 to attend a high-profile meeting.

Jane maintained a low-value pool with a value of $5,000 at the start of the year. During the year, she: purchased a printer valued at $250 (used 100% for work-related purposes); purchased a scanner valued at $600 (used 75% for work-related purposes); on 1 February purchased on 1 February a new computer for $2,320 (used 75% for work-related purposes for 150 out of 365 days); and traded in the old scanner for $200 (used 75% for work-related purposes). She estimates the computers useful life is 4 years, but the Commissioner provides that the effective life of a computer is generally 5 years. Jane is single. She has an appropriate level of private patient hospital cover. Work out Janes tax liability for the 2019-20 income year.

Mark	Item	Law	Income (+) or Deductions (-)
1	Remuneration for services rendered
1	Travel allowance
1	Parking reimbursement
1	Army reserves
1	Lottery winning
1	Lottery cost
1	Interest income
1	Compensation
1	Speeding fine
1	Cleaning home office [working:
1	Newspapers
1	Phone answering services [working:
1	Conference [working:
1	Donation
1	Travelling expense
0.5	Self-education: Textbook (3b)
1	Self-education: HELP (1)
1	Self-education: Others (2, 3a, 4) [working:
1	Legal expenses [working:
1	Dress
1	Decline-In-Value that cannot go in the pool: [working:
1	Decline-In-Value that cannot go in the pool: [working 1: [working 2:
1	Decline-In-Value from the table below

Low Value Pool Table Calculation

		Value ($)	Deductible Percentage	DIV ($)	Balance ($)
0.5	Value of pool at the start
0.5	Add additions to pool [working:
0.5	Less item disposed of [working
0.5	Value at the end
0.5	Pool depreciation

1	Taxable income
1	Income tax [working:
1	Offsets specify item(s)
1	Medicare levy
1	Medicare levy surcharge	(leave blank)
1	Total