Question
Vision Pty Ltd is a Sydney based company. The company has been trading for over fifteen years in Australia and internationally. For the past three
Vision Pty Ltd is a Sydney based company. The company has been trading for over fifteen years in Australia and internationally. For the past three years, the company has the following income and deductions.
For financial year 2020, the company has $600,000 of assessable income and $1,000,000 of deductions.
For financial year 2021, the company has $300,000 of exempt income, $200,000 of assessable income and $500,000 of deductions.
For the financial year 2022, the company has $500,000 of assessable income, $200,000 of exempt income and $200,000 of deductions.
You are required to advise Vision Pty Ltd of its taxable income (or loss) for each year.
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