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QUESTION 7.5 (Disposals not in the ordinary course of business) Ben Rawiller, a resident taxpayer operates an electrical goods store. During the 2021/22 tax year,
QUESTION 7.5 (Disposals not in the ordinary course of business) Ben Rawiller, a resident taxpayer operates an electrical goods store. During the 2021/22 tax year, Ben had the following transactions: Sales $ 2,927,800 Purchases of Trading Stock 1,385,680 Stock - 1 July 2020 458,470 Stock - 30 June 2021 (cost) 401,800 Stock donated to registered charities at market value 49,300 (deductible) Other deductible expenses 582,370 Trading stock destroyed due to flooding in store 83,490 Using the above data, calculate Ben's taxable income for 2021/22
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