Shane is an Australian resident for tax purposes. During the year he derived gross business income of $$152,200$ and had business deductions of $$43,000$ including PAYG Instalment of $$15,100.$ $$4,900$ gross interest from an overseas bank account and tax withheld of $$2,100$ and gross rent of $$18,000$ from a property in UK which he owns, net of $$6,500$ tax. Shan has also received a Covid$-19$ lock down grant of $$5,600$ on $18$ October $2021.$ Shane received a fully franked dividend of $$1400.$ He has adequate private health insurance.

Required:

For the year ended $30$ June $2020,$ calculate Shane$$s:

a$)$ taxable income

b$)$ net tax payable or refundable