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Tax Losses and Capital Losses Recouped The records of Gareth Young, an Australian resident, over three tax years disclosed: 2021/22 2022/23 2023/24 $ $ $

Tax Losses and Capital Losses Recouped
The records of Gareth Young, an Australian resident, over three tax years disclosed:
2021/22 2022/23 2023/24
$ $ $
Assessable business income 54,000 72,000 67,000
Business deductions 75,000 68,000 60,000
Personal superannuation contributions 4,500 3,000 2,000
Gifts 500 2,200 2,500
Exempt income 11,000 2,000 1,000
Capital gains (Losses) NOTE 1 - 6,000 9,000
NOTE 1 Capital Gains and losses were as follows:
2021/22 $
Capital loss from collectables 2,000
Capital loss from other use assets 4,000
2022/23 $
Capital gain from other use assets 9,000
(this gain can be discounted)
NOTE 2 Business deductions include all deductions except for superannuation, gifts, and losses of previous years.
For each tax year, determine Gareth's Taxable Income and anylosses that may be carried forward.

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