Jim Cox,a software designer, and resident of Australia earned thefollowingincome for the year ended 30 June 2014:a) $55000 from sources in Australiab) The equivalent of Aus$30,000 as salary while working overseas for threemonths (foreign income tax amounting to Aus$5000 had been deducted from his income) c) Fully franked dividend of $10000, andd) Dividend income of $850 from WYS Ltd, a London based company (15%withholding tax has been paid). Required: 1) Analyze Jim's situation with relevantT ax Law and calculate the assessable income for the year ended 30 June 2014. Show proper reasoning to support your decision. 2) Assuming Jim does not have any deductions,what is the tax payable on the income? Show the calculations in detail. Scenario 2:Income from personal services and employmentJane and Sally are employed school teachers who have a very wide general knowledge.Both decide to entera television quiz program called"Leaseof the Decade". Under the rules,contestants receive $100 for each appearance,but if questions are answered correctly, they receive substantial cash prizesand other prizes, such as household items and holiday packages. The holiday packages cannot be transferred or redeemed, but the organizers of the program allow them to be converted into alternative venues and accommodation. Jane and Sallygo onthe show but Janeis eliminated inthe first contest and receives her $100. Sally, however, makes 10 appearances. She winscash prizes of $50,000, household appliances worth $20,000 and a trip to Europe with her family valued at $30,000.Required:Analyze thescenario given above for Jane and sally by identifying and applying the relevant law. Discuss and recommend on the assessability of these prizes. Present a conclusion. Scenario 3: Fringe Benefit Tax Evaluate and show proper reasoning whether the following benefits are fringe benefits or exempt fringe benefitsand, where applicable,the relevant category of fringe benefit. Support your answer with relevant sections of law:(a) Payment to employee for the estimated cost of the employee's home phone bill as the employee sometimes has to use the home phone for work purposes. (b) Provision of accommodation atthefamilyhome to a child who is over 21 andworkin the family business.(c) Payment of employee's superannuation contribution by the employer to acomplying super annuation fund.(d) Loan by Company X to one of its directors, Ron, who is also a shareholder in the company.The company's rules do not permitloans to directors.(e) Payment of taxi fare by employer for employee to travel home after working late. (f) Flowers sent to a sick employee who is hospitalized.The flowers cost $75. (g) Provision of a car foran employee's private use, including payment of all fuel costs by the employer.(h) Provision of sandwiches at a lunchtime seminar held at the employer's premises.(i) Provision of an all-­‐expenses-­‐paid holiday to an employee who has had to work every weekend for the last six months.(j) Provision of two laptop computers to an employee who regularly attends clients' premises. Scenario