Robert, an Australian resident for tax purposes, earns income from a variety of sources during the year as follows:-

$

Rent from lala office120,000

Dividend from jayson ltd franked to100%5,000

Franking credits on this dividend is $2,143

Unfranked dividend from Benni Pty.Ltd.1,000

Army ReserveIncome2,210

Heincurs expenses of $38,300 which are allowable deductions.

Required

Calculate his taxable income and net tax payableas a single and does not have private healthinsurance.5marks

b)Discuss the circumstances when business income may not be assessable income to an organisation.