The trustees resolved to distribute the net trust income as to 5096 to Jim and 5010 to Mary. It is important that you take note of the separate items of income when accounting for the distribution This means that the capital gain, dividend and exempt income are treated 28 retaining their original characteristics after distribution. Jim's individual personal records reveal the following: Receipts 590,000 Salary paid by the trust $ 6,000 Rental income from a rental property Distribution from the trust, amount to be determined from the above figures Payments 5 8.000 Interest on money borrowed to purchase the income producing property $14,000 5 3,500 Medical fees for Jim and Mary Motor vehicle costs associated with Jim using his own car for work purposes using the cents per kilometre method Notes - Additional Information - Jim's individual activities @ In the income year ending 30 June 2016, Jim made a trading loss of $36,000. (in) Jim made a capital loss of $12,000 from the sale of shares the he had purchased on 20 June 2005. (iit) The trust paid Jim's expenses of $3,000 to attend an accounting conference in New Delhi (iv) Jim and Mary have private hospital insurance. REQUIRED: 1. Calculate the net trust income for the Central Accounting Services Trust for the year ended 30 June 2016. 2 Calculate Jim's share of the net income from the trust and his own personal tax liability for the income year ended 30 June 2016. (20 marks)