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On 1 July 2018, Vilmer Ltd purchased a machine for $100000. Vilmer Ltd adopts a straight-line depreciation method and uses 10% and 15% as depreciation
On 1 July 2018, Vilmer Ltd purchased a machine for $100000. Vilmer Ltd adopts a straight-line depreciation method and uses 10% and 15% as depreciation rate and tax rate respectively. The salvage value is zero and the tax rate is 30%. At 30 June 2019, which of the following statements is correct with respect to the transaction that is in accordance with AASB 112 Income Taxes only? The temporary difference results in a deferred tax liability amounting to $1500 The temporary difference results in a deferred tax asset amounting to $1500 None of the given answers. The temporary difference results in a deferred tax liability amounting to $5000 The temporary difference results in a deferred tax asset amounting to $5000
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