On 1 August 2017, John commences work as a Project manager being paid a salary of $125,000 up to 30 June 2018. On the same day, he also completes a building which cost $5,000,000 to construct which he immediately rents out. He receives $40,000 rent from the building up to 30 June 2018. 

Required: 

Advise John as to what his taxable income or loss will be for the tax year ended 30 June 2018.

Answer rating: 100% (QA)

Salary Income Johns salary as a project manager is 125000 for the period f... View the full answer