Jared Ashton is an Australian resident for tax purpose. He works 1 day a week as a financial analyst at a large global financial service firm while he is completing this PhD full time. During the 2011-2012 financial year Jared
- received $30,000 of salary as a financial analyst
- received $25,000 of rent from an investment property
- won $4,000 in the Melbourne Cup Horse Race
- sold his shares that he bought for $12,000 two years ago for a proceed of $25,000
- received $100 gift voucher in Christmas from the employer for appreciation of his insightful analysis of the Australian property trust sector
- spend $5000 to upgrade a new investment property that he owns
- spend $20000 on interest expense on this investment property
- contributed $1000 towards a superannuation plan using after tax income
- bought a $800 laptop for his work as a financial analyst
- spent $867 on medical expenses
Jared's assessable income is? Allowable deduction is? Low income tax offset is?