Calculate Sophie's taxable income in light of the following: Assessable income = $70,000 (source is salary and dividends); Donations to registered charities = $1,000; Donation to GoFund Me = $3,000; Interest on a loan to buy shares (which produced assessable income included in $70,000) = $8,000; Compulsory work uniform costs = $440.

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To calculate Sophies taxable income we need to consider the assessable income and de... View the full answer