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Assessable Income: Sale of food and drinks in the restaurant: $765,000 Sale of trademarked spaghetti...

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Accounting

Assessable Income: Sale of food and drinks in the restaurant: $765,000 Sale of trademarked spaghetti products sold overseas: $37,392 Royalty payment for use of trademark spaghetti products: $25,000 Interest on bank deposits: $7,000 Exempt income from the Commonwealth Government Trade show: $12,000 Private health fund refunds: $2,500 Inheritance from her grandmother: $150,000 Rent from investment property: $34,500 Total assessable income: $1,033,392 Allowable Deductions: Rent on her restaurant in Bris

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