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The following data relates to Stephanie Garner, a resident taxpayer. Stephanie derives income from a public relations business and is also a partner in a
The following data relates to Stephanie Garner, a resident taxpayer. Stephanie derives income from a public relations business and is also a partner in a marketing business.
| 2015/16 | 2016/17 | 2017/18 |
Assessable business income | $ 93,400 | $ 126,000 | $ 133,400 |
General business deductions | 80,000 | 129,000 | 119,200 |
Share of Partnership Net Income (Loss) | (21,800) | 14,900 | (5,600) |
Superannuation and Gifts | 4,000 | 11,000 | 8,000 |
Net exempt income | 1,500 | 3,000 | 2,000 |
Required: determine Stephanies Taxable Income and any losses that may be carried forward 2016/2017 and 2017/2018 .
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