TASK 2 During the 2022/23 tax year, Porter Chrystan created the Blind Trust, an Inter Vivos trust to provide services to his psychiatry practice. The net income of the trust during the 2022/23 tax year was $270,000. The trust is to be distributed as follows: Josh (age 43) 50% Marise (age 62) 10% Scott (age 18) 15% Barnaby (age 17) 10% The balance is to be accumulated and applied at the trustee's discretion for the beneficiaries. There were two discretionary distributions made: $6,000 was paid towards Bamaby's education. $9,000 was paid to Ford Credit to pay off a debt incurred by Scott who is currently under medical supervision as he has been pronounced insane. FINSACC601 Assessment 1 v1.3.2 2 of 5 Applied Education Barnaby worked at Hills Pizza for 8 hours per week and derived gross wages of $5,000 (PAYG tax withheld $440) during the year. He also received income of $7,000 from a deceased estate (including franking credits of $400). REQUIRED: Using the template provided: ) Prepare a schedule (covering all beneficiaries) nominating: Name of the BENEFICIARY Whether or not the beneficiary is PRESENTLY ENTITLED Whether or not the beneficiary is under a LEGAL DISABILITY Which SECTIONS of the Act apply to make the income assessable WHO IS ASSESSED on each amount. The AMOUNT retained or distributed. bj Calculate tax payable by the trustee. c) Calculate tax payable by Barnaby