Keira Lowe had the following transactions during the 2021/22 tax year: Assessable Business Income
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Question:
Keira Lowe had the following transactions during the 2021/22 tax year:
Assessable Business Income $ 225,000
General business deductions 220,000
Personal superannuation contributions | 20,000 |
Tax Agents Fee | 6,000 |
Borrowing costs(deductible amount) | 8,000 |
Gifts to Designated Gift Recipients | 12,000 |
Costs of seeking election to State Government | 7,000 |
Calculate Keira's taxable income and any losses that may be carried forward.
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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