Question
Aussie Real State Ltd provides a wide range of rental services for business purposes. Aussie Real State Ltd derives Australian sourced income for the current
Aussie Real State Ltd provides a wide range of rental services for business purposes. Aussie Real State Ltd derives Australian sourced income for the current tax year comprising net income from trading of $90,000, franked distribution from public companies amounting to $42,000 (carrying an imputation credit of $18,000), unranked distributions from resident private companies amounting to $24,000 and rental income of $11,000.
Required: Calculate the net tax payable by Aussie Real State Ltd for the year ended 30 June 2022. (Assume the company tax rate is 30%)
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