Calculate Shark's taxable income (Shark did not have any other income or deductions) Assessable Income "Receipt Amount $" "Workings (show clearly)" "Enter Claimable amount $ " Share of Partnership Net Income 35,100 35,100 Interest on Loan to partnership 11,000 11,000 Others (if applicable) 18,000 Salary 18,000 Total Assessable Income 64,100 Deductible Expenses "Deductible Amount $" "Workings (show clearly)" "Enter Claimable amount $ " Personal Superannuation 4,000.00 Superannuation Paid deduction 4,000 Others (if applicable) 1,800.00 Interest on Drawings charged deduction 1,800 Total Deductible Expenses 5,800 TAXABLE INCOME 58,300

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