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On 1 November 2023, the company rate of income tax was changed from 35% to 30%. At the previous reporting date (30 June 2023) Angus
On 1 November 2023, the company rate of income tax was changed from 35% to 30%. At the previous reporting date (30 June 2023) Angus Limited had the following tax balances: | |
Deferred tax assets | $23,000 |
Deferred tax liabilities | $45,000 |
What is the effect of the tax rate change on income tax expense? |
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