For the financial year ended 30 June 2021, XYZ Ltd recorded an accounting profit of $2,000,000. The following items were included in the calculation of its profit/loss:

I. The company has earned $640,000 of rent income during the year. The companys rent received in advance at the beginning and end of the year are $480,000 and $690,000 respectively. II. The company has earned government grant $10,000 which is non-tax assessable. III. The companys provision for annual leave at the beginning and end of the year are $432,000 and $536,000 respectively. In the current year, $160,000 annual leave was paid. IV. The company has an allowance for doubtful debts balance of $200,000 at the end of the year. The balance of the allowance account at the beginning of the year was $240,000. In the current period, $88,000 was written off as being uncollectable. The gross amount of accounts receivable at the beginning and end of the year are $1,840,000 and $1,680,000 respectively. V. Tax rate is 30%. Required: Determine the current tax expense for XYZ Ltd for the year ended 30 June 2021, in accordance with the requirements of AASB 112 Income Taxes.