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On 1 April 2015, the company rate of income tax changed from 35% to 30%. At the previous reporting date (30 June 2014) Monty Limited
On 1 April 2015, the company rate of income tax changed from 35% to 30%. At the previous reporting date (30 June 2014) Monty Limited had the following tax balances: - deferred tax assets $20 250 - deferred tax liabilities $15 000. What is the impact of the tax rate change on income tax expense?
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