Comprehensive Analysis: MR Corey Mitchell Hart's 2018 Tax Return

This document is a detailed analysis of MR Corey Mitchell Hart's 2018 individual tax return. It comprehensively covers various aspects, including salary and wages, dividends, interest income, and rental income, providing a complete overview of the taxpayer's income sources. The analysis delves into the deductions claimed, such as work-related expenses, gifts and donations, and the cost of managing tax affairs, offering insight into the strategies used to reduce taxable income. Furthermore, the document examines the tax offsets, including private health insurance rebates and current year tax offsets, along with information on capital gains, foreign income, and business income and expenses. It also includes spouse details and income information, and concludes with a reconciliation of income and expenses. This analysis is valuable for understanding the complexities of individual tax returns and the various components that contribute to a taxpayer's overall tax liability.

Page 1 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
Income
Occupation code X
Your main salary and wage occupation
Salary or wages1
212413Newspaper journalist
Payer Allowances Lump A Lump B Tax Withheld Gross
The Daily Mail ABN: 90 850 815 320 RFBA:5790 RESC:6800
40,176.00 162,660
WHM
The Daily Mail ABN: 90 850 815 320
2,028.00 5,451
WHM
$boxes.Add up theTotal tax withheld 42,204.00
L
MTax file number amounts
withheld from gross interest
Gross interest10 Gross
interest 402
Bank / Branch / Account TFN amt Gross amt
Westpac online 123
NAB access acco 29
NAB TERM DEPOSIT 250
Dividends11
withheld from dividends V UFranking credit
Franked amount
Unfranked amount S
T
Tax file number amounts
Unfranked Franked Franking credit TFN amount Business?27.5%
0.00 784
327
2,273
N N40.00 60.00 25.71AMP
N N168.00 72.00Caltex
N N160.00 725.00 310.71Fortescue Metals
N N127.20JB Hi Fi
N N80.00 34.28Seven West Media
N N560.00 240.00Woolworths
N N680.04 102.00British Petroleum PLC
LOSS
/
Only used by taxpayers completing the supplementary sectionI
Transfer the amount from TOTAL SUPPLEMENT INCOME OR LOSS 57,353
LOSS
/Add up the income amounts and deduct any loss amount in the boxes.TOTAL INCOME OR LOSS 229,250
Deductions
D2 BWork related travel expenses 4,490
D5 EOther work related expenses 2,738
Mobile Telephone Expenses 337
Home Internet Access Fees 270
Subscriptions and Memberships 2,131
D6 KLow value pool deduction
Investments Rental Other
1,640
Purchase of a Dell Desktop
Computer
1,640
JD9 Gifts or donations 6,230
Multiple Sclerosis Society of Queensl 200
Children's Medical Research Institute 100
Hepatitis Queensland Inc 60
Thailand Tsunami Disaster Relief Fund 50
Queensland University of Technology A 100
Gala charity 180
Beyond Blue Limited 40
Sensitive (when completed)

Page 2 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
Queensland State Charity 1,500
Autism Queensland Limited 4,000
D10 NCost of managing tax affairs
L
M
Interest charged by the ATO
Litigation costs
Other expenses incurred in managing your tax affairs
216
0
560
ATO interest Litigation Other
Tax agent's fee 560
General Interest Charge (GIC) 216
D Transfer the amount from TOTAL SUPPLEMENT DEDUCTIONS
Only used by taxpayers completing the supplementary section 2,600
boxesadd up thetoD1ItemsTOTAL DEDUCTIONS D 18,474
LOSS
/TOTAL DEDUCTIONSlessTOTAL INCOME OR LOSSSUBTOTAL 210,776
from amount at SUBTOTAL
item L1and ZF LOSS
/$
Subtract amounts at
TAXABLE INCOME OR LOSS 210,776
U-add up the boxesItems T2 andTOTAL TAX OFFSETS T 0
Medicare levy surcharge (MLS)
(including your spouse) - if you had any - covered by private patient HOSPITAL cover?
liable for surcharge
Number of days NOT A
for no.Nor
for yesYPrint
E
If you do not complete this item you may be charged the full Medicare levy surcharge.
THIS ITEM IS COMPULSORY
M2
For the whole period 1 July 2017 to 30 June 2018, were you and all your dependants
Private health insurance policy details
You must read Private health insurance policy details in the tax return instructions before completing this item.
Fill all the labels below unless directed in the instructions.
tax return instructions.
Tax claim code. Read the
rebate received
Your Australian Government
Benefit code
Australian Government rebate
Your premiums eligible for
L
J
insurer ID number
K
MembershipHealth
CODE
B C
30
5362,064
BUP 31782216
C
tax return instructions.
Tax claim code. Read the
rebate received
Your Australian Government
Benefit code
Australian Government rebate
Your premiums eligible for
L
J
insurer ID number
K
MembershipHealth
CODE
B C
31
184725
BUP 31782216
C
DWorking holiday maker net incomeA4 168,111
(for ATO validation only)
Total reportable fringe benefits amounts
Employers not exempt from FBT under section 57A of the FBTAA 1986
Employers exempt from FBT under section 57A of the FBTAA 1986
W
If the amount is zero, write 0.
TReportable employer superannuation contributionsIT2
If you had a spouse during 2017-18 you must also complete Spouse details – married or de facto on page 7.
You must complete this section.
Income tests
N
Total reportable fringe benefits amountsIT1
5,790
5,790
6,800
0
XNet financial investment lossIT5 0
Sensitive (when completed)

Page 3 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
YNet rental property lossIT6
Net rent - Item 21
Less: Deduction - Item D6
Net rent from partnerships - Item 13
TOTAL (transfers to Label Y - LOSS amounts only)
Total foreign rental income or loss - Items 20R, 24Y less D15J
Net rent from partnerships/sole trader activities - Item 16
Net rent - Item 15
9,117
L9,117
0
0
0
L9,117
0
0
Non-resident foreign income
/
(For ATO validation only)
/
Estimated eligible income
Estimated total income
Adjusted taxable income 235,083
181,869
286,325
Indeterminate
30 June 2018.
No YesDid your spouse die during the year?
YesNo- 1 July 2017 to 30 June 2018?
Did you have a spouse for the full year
If you had more than one spouse during 2017-18 print the name of your spouse on 30 June 2018 or your last spouse.
Your spouse's name
If you did not have a spouse, go to page 8.
Your spouse's gender
Period you had a spouse - married or de facto
K
FemaleMale
date of birth
Your spouse's YearMonthDay
Other given names
Surname or family name
First given name
We need the information included in this section to assess your tax accurately.
If you had a spouse during 2017-18, you must complete Spouse details - married or de facto.
Use related ref details?
From
to
N
spouse between 1 July 2017 and
full year, write the dates you had a
MIf you did not have a spouse for the
L
Spouse details-married or de facto
X
X
X
Michelle
Hart
Sensitive (when completed)

Page 4 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
Your spouse's total reportable fringe benefits amounts
SEmployers not exempt from FBT under section 57A of the FBTAA 1986
Military Rehabilitation and Compensation Act 2004
You must complete all labels
This information relates to your spouse's income
(exclude exempt pension income)
/(ATO validation purpose only)
Spouse’s total ATI
Your spouse’s taxed element of a superannuation lump sum for which the tax rate
is zero (see M2 Medicare levy surcharge in the tax return instructions) F
Child support your spouse paid E
investment loss and net rental property loss)
Your spouse’s total net investment loss (total of net financial D
CYour spouse’s target foreign income
Other specified exempt payments that your spouse received B
(see Spouse details – married or de facto in the instructions)
employer superannuation contributions and deductible personal superannuation contributions)
Pre-fill using related ref return details?
(Related ref for spouse details above
must be answered Y)
OYour spouse’s 2017-18 taxable income
Amount of your spouse’s reportable superannuation contributions (which is the total of reportable A
that your spouse received in 2017-18. Do not include any amount paid under the Q
Amount of exempt pension income (see Spouse details - married or de facto in the instructions)
pensions and allowances in the tax return instructions) that your spouse received in 2017-18
Amount of Australian Government pensions and allowances (see Q6 Australian Government
P
REmployers exempt from FBT under section 57A of the FBTAA 1986
Distributions to your spouse on which family trust distribution tax has been paid and which U
your spouse would have had to show as assessable income if the tax had not been paid
section 98 and which has not been included in spouse’s taxable income TYour spouse’s share of trust income on which the trustee is assessed under
12,180
Y 12,180
Xwithholding amounts
Credit for foreign resident capital gains
/
CODE
exemption or rollover? MHave you applied an from a trust.
tax event during the year?
A
V
H
G
Net capital gain
had an amount of a capital gain
You must print Y at G if you
Total current year capital gains
to later income years
Net capital losses carried forward
Did you have a capital gains for no.Nor
for yesYPrintCapital gains18
63,220133,480
10,820
Y
K
BW
Iin a controlled foreign company (CFC)?
Did you have either a direct or indirect interest
trust income
Transferor
services to a non-resident trust estate?
the transfer of property-including money-or
, either directly or indirectly, causedeverHave you
for no.Nor for yesYPrint
CFC income
for no.Nor for yesYPrint
Foreign entities19
N
N
P
a total value of AUD$50,000 or more?
assets located outside Australia which had
During the year did you own, or have an interest in,
for no.Nor
for yesYPrint
Foreign source income and foreign assets or property20
N
LOSS
/U
F
Q
P
P less (Q + F + U)
Net rentOther rental deductions
Capital works deductions
Interest deductions
Gross rentRent21 34,200
30,978
9,117 L
3,860
8,479
Sensitive (when completed)

Page 5 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
YCategory 1
Other income24
3,250Royalty Income
OtherLow value - rentalLow value - invest
3,250
Royalty Income
S
Category 2Type of Xincome (ATO interest)
Category 3 V
boxes for income amounts and deduct
LOSS
Transfer this amount to
/
any loss amounts in the boxes
Items 13 to 24 - add up the
on page 3
INCOME OR LOSS
TOTAL SUPPLEMENT
I
57,353
D12 Personal superannuation contributions H 2,600
Fund name / TFN / ABN Account no
AMP Superannuation Fund ABN:39 780 311
675 TFN:188 128 215
288471 2600
boxes and transfer this amount to-add up theD15toD11Items
TOTAL SUPPLEMENT DEDUCTIONS
D 2,600
aids, attendant care or aged care Offset : $0.00
XTotal net medical expenses for disabilityT5 2,000
Tax offset carried forward from previous year
Current year tax offset
M
KEarly stage venture capital limited partnershipT8
OTax offset carried forward from previous year
Current year tax offset LEarly stage investorT9
Transfer this amount to
- add up the boxesItems T3, T4, T6, T7, T8, T9, T10 and T11
TAX OFFSETS
TOTAL SUPPLEMENT
T
Credit for interest on tax paid
C1 Credit for interest on early payments-amount of interest L
Amount Paid Date Paid Due Date Claim Amount
5137 19/06/2018
Bwithholding (excluding capital gains)
Gross pmts subject to foreign resident
/
//
///
// J
H
O
F
D
I
G
N
E
C
Total business income
Business Number not quoted
Gross payments where Australian
- voluntary agreement
Gross payments
or other specified payments
Gross payments - labour hire
industry payments
Assessable government
Other business income
Totals
TYPE TYPE
Income Non-primary productionPrimary production
Business income and expensesP8
1,1681,168
1,168 1,168
Sensitive (when completed)

Page 6 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
Uexpenses (excluding capital gains)
Foreign resident withholding
(K + L - M)
/
/
///
/// TS
L
M
F
G
I
J
K
Q
R
M
N
O
P
K
boxes for each column.Add up the
Total expenses
TYPE
Lease expenses
Closing stock
Cost of sales
and commission expenses
Contractor, sub-contractor
Superannuation expenses
Bad debts
Rent expenses
within Australia
Interest expenses
Interest expenses overseas
Depreciation expenses
Motor vehicle expenses
Repairs and maintenance
All other expenses
Purchases and other costs
TYPE
Expenses Opening stock
3,700
3,700
3,700
3,700
3,700
fencing asset and fodder storage asset
Business deduction for project pool
Section 40-880 deduction
L
A
E
a prior year
Y Z ///
D
Transfer the amounts at labels Y and Z to item 15 on page 9.
business losses from
Deferred non-commercial
from business
Net income or loss
B C ///
/
/
//
//
W
X
HExpense reconciliation adjustments
for decline in value of water facility,
Landcare operations and business deduction
Income reconciliation adjustments
Reconciliation items
from business this year
Net income or loss
2,532 L
2,532 L
Sensitive (when completed)

Page 7 of 7Individual Tax Return 2018 MR Corey Mitchell Hart TFN: 212 237 802
Position held
standard review period is two years but for some taxpayers it is four years.
your tax return, and issue an amended assessment if a review shows inaccuracies that change the assessment. The
The ATO will issue your assessment based on your tax return. However, the ATO has some time to review
in our records. It is not an offence not to provide your TFN. However if you do not provide your TFN, your assessment may be delayed.
go to ato.gov.au/privacy
Taxation law authorises the ATO to collect information and to disclose it to other government agencies. For information about your privacy
Privacy:
The ATO is authorised by the Taxation Administration Act 1953 to request your tax file number (TFN). We will use your TFN to identify you
Taxpayer's
• I authorise my registered tax agent to lodge this tax return.
YearMonthDay
DateSignature
The tax law imposes heavy penalties for giving false or misleading information.Important:
I,
• the information provided to my registered tax agent for the preparation of this tax return is true and correct, and
I declare that:
professional items section and other schedules if applicable.
Read and sign the declaration after completing your tax return, including the Supplementary section, Business and
Taxpayer’s declaration
YearDay Month
Telephone numberArea code
Date Client’s referenceAgent’s signature
Agent’s reference number
Agent’s telephone number
Contact name
and that the taxpayer has authorised me to lodge the tax return.
that the taxpayer has given me a declaration stating that the information provided to me is true and correct
declare that this tax return has been prepared in accordance with information supplied by the taxpayer,
Tax agent’s declaration
Partner
3219 021907 00013000
HANDISOFT SOFTWARE TESTER
MITC0001
Sensitive (when completed)