Thomas and John Smith run a business in partnership. For the year ended 30 June 2021, the partnership accounts show a profit of $140,000. The partnership deed provides that the income should be distributed equally. However, Johns share of the income is put back into the partnership by his brother Thomas and used to buy more tools.

Advise Thomas and John of their taxable income and their tax payable for the year ended 30 June 2021.