Your supervisor has provided you with the following information she has prepared for a client. The partnership consists of three partners; Matthew, Helen and Lynn James, who operate a boat hire business (Industry code 66390).

Partnership Net Income $ $ Assessable Income Boat Hire Fees 491,000 Less: Deductions Boat Operating Expenses 54,000 Salaries - employees 36,000 Superannuation - employees 3,000 Rent 41,000 Interest on Loan 1,000 Other Expenses 55,000 Lease of Boats 92,000 282,000 Partnership Net Income 209,000

Assets Cash at bank 20,000 Liabilities Bank Loan 15,000

DISTRIBUTION - PNI Matthew Lynn Helen TOTAL Partners Salaries 60,000 18,000 78,000 Interest on Capital 14,000 11,000 6,100 31,100 Interest on Drawings (2,400) (1,800) (1,200) (5,400) Share of Adj. Net Inc. 52,650 35,100 17,550 105,300 124,250 62,300 22,450 209,000

REQUIRED:

a) Complete the Partnership tax return for 2019

b) Attach a copy of the Partnership tax return to an email to Helen (the nominated contact for the partnership) requesting she sign and return the form for lodgment with the ATO