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Australian company (resident for tax purposes) with assessable income of $1,100,000 and allowable deductions of $950,000. Its assessable income comprises of $200,000 in trading income

Australian company (resident for tax purposes) with assessable income of $1,100,000 and allowable deductions of $950,000. Its assessable income comprises of $200,000 in trading income and $900,000 in interest income. It has no tax offsets. Assume aggregate turnover is under $50m.

Calculate the basic tax payable?

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