Sam Journeyman derives income as a professional beach dodge ball player. During the 2017/18 tax year, Sam
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Question:
Sam Journeyman derives income as a professional beach dodge ball player.
During the 2017/18 tax year, Sam received the followingamounts:
Tournament Prizemoney from dodgeball | $85,000 |
Appearance fees from dodge balltournaments | 12,000 |
Cash sponsorship fromAussieboom | 60,000 |
Jetski provided by Aussieboom as a sponsorshipbenefit | 8,000 |
Interest from bank account comprising savings from Prizemoney | 3,700 |
Director fees from DodgeballAustralia. Sam is a director of Dodgeball Australia. | 14,500 |
Car provided by Dodgeball Australia as abenefit | 7,200 |
Required:
- Calculate Sam's taxable professional income for the 2017/18 taxyear.
- Calculate Sam's other taxable income for 2017/18 tax year
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: