Question
Please answer this questions asap please Leo Pty Ltd sells a printing press which has been used solely for income-producing purposes. The termination value of
Please answer this questions asap please
Leo Pty Ltd sells a printing press which has been used solely for income-producing purposes. The termination value of the press is $15000 and its cost was $42500. At the time of sale, the computers adjustable value is $9000.
What is the balancing adjustment amount in respect of the sale?
Select one:
$15000
$42500
$0
$6000
2.
Albert is an Australian resident for tax purposes. He currently works as a waiter in a fancy French restaurant in Sydney. His total (gross) salary for the income year ended 30 June 2020 is $80,000, from which his employer withheld Pay As You Go (PAYG) income tax withholding totalling $18,617.
Albert also received tips from customers at the restaurant totalling $5,000 for the income year ended 30 June 2020.
Finally, Albert has a term deposit which has generated interest received of $500 for the year ended 30 June 2020.
$85,500
$80,500
$85,000
$66,883
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