The question is related to the Australian tax 2018.

Sport Fit Pty Ltd derives $600,000 net trading income from Australian sources during the current tax year. The company also earns the following: $46,000 - Franked dividend from public companies. $30,000 - Unfranked dividend from resident private companies. $10,000 - Interest income. Assume Sport Fit Pty Ltd is a small business entity.

Calculate and explain the company net tax payable for the year ended 30 June 2017, making reference to any relevant statute, and/or general law.