Pranab Trust is a resident discretionary inter-vivos trust carrying on hospitality trading activities. During the 2015/2016 income year the trust made a loss of $15,000 calculated in accordance with s 95(1) ITAA 1936. Pranab Trust has performed better in 2016/2017, with income of Pranab Trust comprising: Profit from the business activities $103,000 Interest on term deposit $7,000 Fully franked dividend (with imputation credit of $6,000) $14,000 During the 2016/2017 income year, tax deductible business expenses of $23,000 were incurred.