TAX In calculating income tax expense, the $2023$ tax rate $(20\%)$ was multiplied by the income before tax amount on the preliminary income statement.

Additional information to compute the income tax expense amount:

i$.$ The company paid a hefty fine for $$15,000$ in $2023$ which is not deductible for tax purposes.

ii$.$ The company paid $$30,000$ in $2023$ for Casey Castle$$s membership at a private golf club. This amount is not deductible for tax purposes

iii. Capital Cost Allowance $($CCA$)$ for $2023$ is $$325,000.$

You remind yourself that there are other items mentioned previously that will affect the computation of the income tax expense.