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
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 year ended 30 June 2018. b) Calculate John Pty Ltd.s net tax payable or refundable for the year ended 30 June 2018.
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Management Accounting
Authors: Will Seal, Carsten Rohde, Ray Garrison, Eric Noreen
6th Edition
0077185536, 978-0077185534
