RECEIPTS DURING 2022/23 DATE DESCRIPTION $ NOTES FULL YEAR Net Salary 84,500 PAYGW totalled $ 28,600 FULL YEAR Rent from property in Wollongong 32,600 Includes $3,600 of compensation for damage by tenant FULL YEAR Uniform allowance 1,500 FULL YEAR Gym membership provided by Nationwide as a fringe benefit 6,000 Full year subscription paid by employer 22/07/22 Dividend from Broken Blade Ltd 1,400 20% franked at 30% tax rate 29/09/22 Reimbursement of heavy vehicle licence and assessment 1,600 29/10/22 Proceeds from sale of shares in Slow Grow Ltd 27,900 Originally purchased in 2015 for $30,300 26/11/22 Dividend from Roaring Success Ltd 2,450 Fully franked at 30% tax rate 27/02/23 Proceeds from sale of vacant land 150,000 Originally purchased in 2016 for $180,000. Sold to daughter to build home. Market value upon disposal $250,000 19/04/23 Proceeds from sale of shares in Fast Buck Ltd 6,300 Purchased in July 2022 (refer to payments) 28/06/23 Proceeds from sale of autographed football 30,000 Acquired in 2014 for zero cost (later signed by famous player) OTHER INFORMATION a) On 1 June 2023, Vinicius had his uninsured boat destroyed in a fishing accident. The boat had cost Vinicius $25,000 in 2019 and had a market value of $17,000. b) Vinicius had $3,500 of capital losses brought forward from 2019 relating to the sale of jewellery. c) Vinicius was entitled to accrued leave entitlements from Nationwide of $13,500 as at 30th June 2023. PAYMENTS DURING 2022/23 DATE DESCRIPTION $ NOTES FULL YEAR Private Hospital Insurance Premiums 3,800 Reduced premium option taken FULL YEAR Stationery used for work 140 No receipts kept; Each transaction cost less than $10 FULL YEAR Sunglasses to protect eyesight while driving for Nationwide 700 Entirely work related FULL YEAR Income activity statement instalments paid 12,600 PAYGI 09/07/22 Payment for home security system 3,000 Effective life of 10 years; necessary to allow Vinicius to continue working in logistics 31/07/22 Purchase of shares in Fast Buck Ltd 1,800 Sold in April 2023 (refer receipts) 26/08/22 Purchase of Nationwide registered uniform 850 Not compulsory 01/09/22 Repair of flooring in rental property 3,500 Damaged by tenant 01/09/22 Installation of new pathway at rental property 2,400 Unrelated to tenant damage 15/12/22 Payment of annual council rates 3,800 50% related to Wollongong property and the remainder to private residence. Various Speeding fines incurred while performing standard work trips 1,250 OTHER INFORMATION a) Vinicius used his private car for work related travel of 1,200 kilometres during the year to attend non-standard engagements. b) Vinicius has kept a record indicating that he washed his uniform 3 times per week separately from his other clothing. c) Vinicius incurred borrowing costs of $2,750 in 2022 on a 20-year mortgage taken to purchase the Wollongong property. PART A Calculate Vinicius Net Capital Gain. Identify the relevant section reference for any exemption or exclusion. Clearly outline all steps in the calculation. PART B Calculate Vinicius Assessable Income. Identify the relevant section reference for each inclusion or exclusion. Clearly show all necessary workings. PART C Calculate Vinicius Allowable Deductions. Identify the relevant section references for each inclusion or exclusion. Clearly show all workings. Apply any available alternatives to obtain the maximum deduction available. PART D Calculate Vinicius net tax payable or refund due. Clearly show all workings.