Homework Answers
| Answer | |||
| Length of Contract | 2019 Income | 2020 Income | Total Taxable Income |
| 12 Months | (From 1st July 2019 to 31st Dec 2019) | (From 1st Jan 2020 to 30th June 2020) | |
| = 40,000 / 12 * 6 | = 40,000 / 12 * 6 | ||
| $ 20,000 | $ 20,000 | = $ 40,000 | |
| 24 months | (From 1st July 2019 to 31st Dec 2019) | (From 1st Jan 2020 to 31st Dec 2020) | |
| = 80,000 /24 * 6 | = 80,000 /24 * 12 | ||
| $ 20,000 | $ 40,000 | = $ 60,000 | |
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