To all helpers, please help me with this completion. It would help a lot in just giving suggestion instead of solutions, example of what is the step$-$by$-$step method to do in$,$ and how can i calculate. Thank you so so much if it helps.

Steve Smith and Tony Rogers met many years ago when they were at university studying a Case information

Assume that all amounts in the case study are GST exclusive $($i$.$e$.$ you do not need to

consider GST$).$

The group

Steve Smith and Tony Rogers met many years ago when they were at university studying a

dentistry degree. Just after gaining their qualifications, they set up a dentistry business

together, trading through a company called Surfside Dentistry Pty Ltd$.$ At establishment,

Steve had already started a family and had a mortgage so he could not contribute as much

of the initial funding as Tony. As such, the company is owned $40\%$ by Steve's discretionary

Trust $($the Smith Family Trust, which contributed $$80,000$ of the capital$)$ and $60\%$ by Tony's

discretionary trust $($the Rogers Family Trust, which contributed $$120,000$ of the capital$).$

Surfside Dentistry Pty Ltd $($Surfside Dentistry$)$

After a modest start, Surfside Dentistry now operates at $8$ locations and provides both

general and cosmetic dentistry services. The business has traditionally been profitable,

however demand for cosmetic dentistry dropped significantly during COVID$19$ and the

company had a couple of loss$-$making years. With the COVID$19$ crisis passed, the company

has returned to profitability, however the company still had $$285,000$ in prior year carried

forward tax losses available at the start of the year. Surfside Dentistry has provided the

following transaction details for the $30$ June $2023$ year:

For the $30$ June $2023$ year, sales from the business were $$11,600,000.$

Surfside Dentistry also derived a $$600,000$ capital gain from the sale of a building that was surplus to its needs. It also derived $$200,000$ in rent during the year prior to the

sale.

Steve and Tony both work in the business as dentists $($i$.$e$.,$ as employees$).$ For the

$2022/23$ year their salaries were:

$,$ Steve $$300,000$ plus super of $10\mathrm{.}5\%($PAYGW of $$112,000$ was withheld$).$

$,$ Tony $$50,000$ plus super of $10\mathrm{.}5\%($PAYGW of $$11,000$ was withheld$).$

Mary Smith $($Steve $\text{'}$s wife$)$ is employed by Surfside Dentistry as the operations

manager. Mary receives a $$100,000$ salary plus super of $10\mathrm{.}5\%($PAYGW of $$25,000$

was withheld$).$

The business also employs other dentists and various administrative staff. All other

operating costs of the business $($i$.$e$.$ other employee wages and super, lease payments,

consumables purchased etc$)$ totalled $$10,440,000($assume all costs are deductible in the

$30$ June $2023$ year$).$

Tony has been working part$-$time in the business for a few years. After a long career in

dentistry, he decided to sell out of the business so he could retire. On $31$ December

$2022,$ Tony sold all the shares held by his family trust to the Smith Family Trust $($for

market value determined by an independent valuer$),$ so that from $1$ January $2023$ the

Smith Family Trust became the $100\%$ shareholder of Surfside Dentistry Pty Ltd$.$ No

other changes to the ownership or operation of the business occurred during the year.

On $1$ December $2022$ Surfside Dentistry paid a $$1,200,000$ fully franked dividend.

Surfside Dentistry's opening franking account balance at $1$ July $2022$ was $$210,000.$

PAYG instalments paid during $2022/23$ year were as follows:

For the quarter ended $30$ June $2022($paid $28$ July $2022)$: $$5,000$

For quarter ended $30$ Sept $2022($paid $28$ Oct $2022)$: $$40,000$

For quarter ended $31$ Dec $2022($paid $28$ Feb $2023)$: $$40,000$

For quarter ended $3$ March $2023($paid $28$ April $2023)$: $$40,000$

A $$80,000$ PAYG instalment for quarter ended $30$ June $2023$ was paid on $28$ July $2023.$

Surfside Dentistry's lodged its prior year $(30$ June $2022)$ tax return on $15$ January $2023$

and received on $25$ January a refund of tax thereon of Smith Inv

dentistry degree. Just after gaining their qualifications, they set up a dentistry business

together, trading through a company called Surfside Dentistry Pty Ltd$.$ At establishment,

Steve had already started a family and had a mortgage so he could not contribute as much

of the initial funding as Tony. As such, the company is owned $40\%$ by Steve$$s discretionary

Trust $($the Smith Family Trust, which contributed $$80,000$ of the capital$)$ and $60\%$ by Tony$$s

discretionary trust $($the Rogers Family Trust, which contributed $$120,000$ of the capital$).$