John received the following income in 2022

Wages $50,000
6 Covid Disaster Payment of $750 per fortnight to compensate for lost wages
Interest from bank $5,000
Unfranked dividends $10,000
Royalties $8,000

John had the following allowable deductions against the above income.
work expenses $2,000
Interest expenses on share portfolio $2,000
John also received $10,000 from a lottery ticket winning.

John was very sick from Covid and also received worker's compensation for lost wages of $2000 and damages of $5,000.

What is the assessable income for John for the 2022 income year ?

Answer rating: 100% (QA)

To calculate Johns assessable income for the 2022 income year we need to consider his various source... View the full answer