Question: Example - Accruals basis Ray Santos operates a toy shop on an accrual basis for tax purposes. Ray is a resident taxpayer. During the 2022/23

Example - Accruals basis Ray Santos operates a toy shop on an accrual basis for tax purposes. Ray is a resident taxpayer. During the 2022/23 tax year the following amounts were deposited into Ray's business bank account. Receipts from customers $407,000 (including GST) Ray also had the following account balances (inclusive of GST): Debtors as at 30 June 2022 $66,000 Debtors as at 30 June 2023 $99,000 Calculate Ray's assessable income for the 2022/23 tax year

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