Daniel is a resident individual who carries on a retail business but does not use the SBE method of accounting for income in his business. On 30 June of the current tax year he had trade debtors of $15 000 from the sale of trading stock during the year, he received $500 in interest income during the year, he worked as an employee for another business during the week ending 27 June and received payment of $600 for that work on 2 July and he received a cash dividend of $700 also on 2 July where the dividend statement indicated that the dividend was un-franked and had been paid on 29 June of the current tax year. Based on these transactions what amount of assessable income will Daniel derive for the current tax year ended 30 June?  

Answer rating: 100% (QA)

Daniels assessable income for the current tax year ended 30 June will be 500 Heres a breakdown of wh... View the full answer