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Hi I need help with this question, I need to calculate his taxable income 2017/2018 Thanks for your help Answer to Q-7.5 (Disposals not in
Hi I need help with this question,
I need to calculate his taxable income 2017/2018
Thanks for your help
Answer to Q-7.5 (Disposals not in the ordinary course of business) Note- Please show all workings where necessary and you may use additional space below Please write your workings/explanations and answers in Blue cells Ben Rawiller a resident taxpayer Business Receipt Items Receipt Amount $ Write your Reasons or Workings (if applicable) Enter receipt amount here $ Sales Stock not disposed in ordinary course of business Business Income 2,927,800.00 49,300.00 Write your Business Deduction Items Receipt Amount $ Enter deduction amount here $ Reasons or Workings (if applicable) Decrease in Trading Stock: Purchase of Trading Stock ------------- Stock - 1 July 20xx - (Financial year - refer to your textbook) Decrease in Trading Stock Stock - 30 June 20xx (cost) - (Financial year - refer to your textbook) Stock donated to registered charities at market value (deductible) Other Deductions expenses Trading stock destroyed due to flooding in store Business Deductions 1,385,680.00 458,470.00 401,800.00 49,300.00 582,370.00 83,490.00 TAXABLE INCOME Additional Workings (if any)
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