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ABC Ltd acquired a machine on 1 Jan 2013 at a cost of 300,000. The useful life was set at 4 years, nil RV. Tax
ABC Ltd acquired a machine on 1 Jan 2013 at a cost of 300,000. The useful life was set at 4 years, nil RV. Tax authorities allow wear & tear over 3 years. Tax rate is 30%.Company year end is Dec. Profit before tax is 100,000 per annum
Calculate the current tax for the 4 yrs (13 16)
Same information as above, except, ABC Ltd decides to sell the machine on 30 December 2014. For an amount of: a)170,000 and b) 120,000 Calculate the current tax payable for Dec 2014.
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