Question
The accounting profit before tax for Domino Ltd for the year ended 30 June 20X6 was $572,000. Included in the accounting profit was the following
The accounting profitbeforetax for Domino Ltd for the year ended 30 June 20X6 was $572,000.
Included in the accounting profit was the following item of income:
Interest revenue
53,000
Additional information:
Interest is assessable for taxation purposes when received.
The tax rate is 30% per annum.
An extract from the draft Statement of Financial Position for the company is as follows:
Assets
Interest receivable
30 June 20X66,000
30 June 20X52,000
Required:
Write in the box below the amount of current tax payable by Domino Ltd for the year ended 30 June 20X6.
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