Expenses information

This information, together with the general case study information, is to be used to complete the Deductions sheet of the Excel workpaper template.

Anna has provided you with the following information about her expenses for the year:

• Anna did a short course in business management costing $2,000 to provide her with skills to better manage her staff.
• In the 30 June 2024 year, Anna worked from home for 10 hours/week for 40 weeks of the year. She also has records of her printer ink, stationery, mobile phone and home internet costs (see below).
• Anna owns a Honda Accord motor vehicle. The car was purchased on 1 January 2024 for $40,000. During the financial year Anna travelled 30,000kms. Anna used a logbook to substantiate that 30% of her travel is work related. The effective life of the motor vehicle is 8 years. Anna has not advised you of what method she would like to use for decline in value deductions, but she would like to maximise her deduction this year.
• Anna has also paid for the following vehicle costs during the year:

Item	Amount
Fuel	$5,400
Servicing	$700
Registration	$900
Insurance	$1,200
Road tolls (all work related)	$400
Speeding fine (while driving for work)	$1,200

• Other expenses Anna paid during the year were as follows:

Item	Amount
Magazine subscription to the PC Professionals Magazine	$104
Donation to the RSPCA	$500
Donation to a friend's Go Fund Me page to help pay medical costs for their sick child	$200
Income protection insurance	$1,000
2022 Tax return preparation fees	$750
ATO general interest charged for paying her last year's tax bill late	$175
ATO late lodgement penalty for lodging last year's tax return late	$222
New business clothes to wear to customer meetings	$1,000
Printer ink and stationery	$500
Total mobile phone (of which 30% is work related)	$1,200
Total home internet (of which 10% is work related)	$1,080

finish the table

Item	Amount	Assessable/deductible?	Calculation (if required)	Amount included as an assessable income/allowable deduction	Legislation/Case Law/Income Tax Rulings
Capital gains
Net capital gain				-
Carry forward loss
Workings