Question
Kailen Tasty Pty Ltd is a food manufacturing firm that has operated from the same premises for over ten years. The companys average annual turnover
Kailen Tasty Pty Ltd is a food manufacturing firm that has operated from the same premises for over ten years. The companys average annual turnover is $60 million. During the year, the company incurred the following expenses (net of GST). Calculate the maximum income tax deduction available for Kailen Tasty in respect of the payments for the year ended 30 June 2020. Required Calculate the maximum income tax deductions for the year ended 30 June 2020 available to Kailen Tasty in respect of each of the above transactions. Referencing to the ITAAs is not required. (6 marks)
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