t Tax Losses A17-6 Calculate a Loss Carryback and Its Benefit; Temporary Differences (L017.2, LO17.3, LO17.4, LO17.6): Tyler Toys Ltd. reported the following: Accounting earnings before tax Depreciation expense (original cost of asset, $75,000) Golf club dues CCA (maximum available claim) Tax rate-enacted in each year 20X3 $10,000 6,000 3,000 3,000 20% 20X4 $15,000 6,000 4,000 6,000 20% 20X5 $(40,000) 6,000 3,000 12,000 30% 20X6 $10,000 6,000 4,000 10,000 Required: 1. Calculate taxable income each year, and tax payable. Tyler claims the maximum CCA each year. 2. How much of the loss could Tyler use as a tax loss carryback? How much tax refund willi receive? How much is the tax loss carryforward? How much is the tax benefit? RE