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On 30 June 2016, an extract of the statement of financial position prepared for internal purposes, but excluding the effect of income tax, disclosed the

On 30 June 2016, an extract of the statement of financial position prepared for internal purposes, but excluding the effect of income tax, disclosed the following:

Assets$Cash80,000Inventory200,000Accounts receivable85,000Allowance for doubtful debts(15,000)Machinery500,000Accumulated depreciation(50,000)Goodwill100,000LiabilitiesAccounts payable160,000Long-service leave50,000Rent received in advance20,000

Additional information:

1. The following balances existed at 1 July 2015:

Deferred tax asset $10,000

Deferred tax liability 12,000

There have been no recorded changes to these balances since 1 July 2015.

2. The machinery was acquired on 1 July 2015. Depreciation for accounting purposes was 10% per annum (straight-line method), while 20% per annum (straight-line method) was used for tax purposes.

3. The tax rate is 30%.

The future deductible amount for the machinery as at 30 June 2018 is:

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