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    Accounting

    Income Calculation

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    Income Calculation


    The case study involves calculation of Anna’s income who is a fitness consultant. He has contract with two clients Sam and Lily. In the fist case Anna has charged $1000 for the training purpose from the client which includes the training material cost amounting to A$ 100. As per the Australia tax law any expenditure incurred for carrying on the operations of the business shall be allowed as deduction for the tax purpose. Hence, the amount of A$ 100 shall be deducted from Anna’s income. In second contract anna provided a video tutorial to client and charged $1000 which included $200

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