Dr Cela has a taxable income of $300,000 in the 2022 income year, and it will remain
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Question:
Year 1:
Rental income: $10,200 (50% of market rate) Interest expense: $17,500
Other rental expenses: $8,200 Net rental loss: $15,500
Year 10:
Rental income: $15,200 (50% of market rate) Interest expense: $17,500
Other rental expenses: $12,200 Net rental loss: $14,500
Year 11:
Rental income: $0 (will not charge rent) Interest expense: $17,500
Other rental expenses: $12,500 Net rental loss: $30,000
Using 2022 tax rates, explain to her what her tax payable will be in each of the income years. Assume that she is an Australian resident, without withholding tax, and has no other deductions or offsets.
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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