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The following information relates to Gary Limited for the year ended 30 June 20X2. Accounting profit before income tax (after all expenses have been included)
The following information relates to Gary Limited for the year ended 30 June 20X2. Accounting profit before income tax (after all expenses have been included) $300 000 Fines and penalties 20 000 Depreciation of plant (accounting) 40 000 Depreciation of plant (tax) 100 000 Long-service leave expense (accounting) 8 000 Income tax rate 30% On the basis of this information the current tax liability is: Question 5Select one: a. $74 400 b. $78 000 c. $80 400 d. $99 600 e. None of the above
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