Ian wants to know what his assessable income will be for the year ended 30 June 2020. He advises you of the following:
· Rent received of $22,000
· Accrued Rent Receivable of $420
· Interest received of $2,300
· Accrued interest of $860
· Unfranked dividend of $2,000. This unfranked dividend was not actually paid to Ian but was instead reinvested into a dividend reinvestment plan and resulted in Ian receiving 10 additional shares in the company.

Question

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The Answer of Ian wants to know what his assessable income will be for the year ended 30 June 2020. He advises you of the following:
· Rent received of $22,000
· Accrued Rent Receivable of $420
· Interest received of $2,300
· Accrued interest of $860
· Unfranked dividend of $2,000. This unfranked dividend was not actually paid to Ian but was instead reinvested into a dividend reinvestment plan and resulted in Ian receiving 10 additional shares in the company.

Ian Wants to Know What His Assessable Income Will Be