Question 5 (7 marks)

Aussie Sports Ltd supplies a wide range of sporting goods, including Rugby League Balls. Aussie Sports Ltd derives Australian sourced income for the current tax year comprising net income from trading of $90,000, franked distribution from public companies amounting to $42,000 (carrying an imputation credit of $18,000), unranked distributions from resident private companies amounting to $16,000 and rental income of $6,000.

Required: Calculate the net tax payable by Aussie Sports Ltd for the year ended 30 June 2021. (Assume company tax rate is 30%)