Fred Pty Ltd, a resident Australian company had the following receipts for the year ended 30 June
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Question:
Fred Pty Ltd, a resident Australian company had the following receipts for the year ended 30 June 2018. Note: the company is eligible as a small business
Receipts | $ |
Gross Interest from Italy (foreign tax $10,000) | 30,000 |
Fully franked dividend | 14,000 |
20% Partly franked dividends | 7,000 |
Unfranked dividends | 15,000 |
Interest (net of TFN tax of $4,700) | 5,300 |
Required
a) Calculate John Pty Ltd.’s taxable income for the year ended 30 June 2018.
b) Calculate John Pty Ltd.’s net tax payable or refundable for the year ended 30 June 2018.
Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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