Amity Holdings Pty Limited ( Amity ) is an Australian resident company that was incorporated during 2
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Question:
Amity Holdings Pty Limited Amity is an Australian resident company that was incorporated
during After purchasing several investments including real estate and shares, in
Amity commenced business as a golf equipment wholesaler with both Australian and overseas
clients.
calculate her taxable income and correct her company tax return
COMPANY TAX RETURN
Taxable income Net profit per income statement
Franking credit
other gross income Rent from residential invesment propreties
SUPERANNUATION EXPENSES
BAD DEBTS Provision for doubtful debts none written off during the year
The difference between opening stock and closing stock is not calculated.
Cost of Sales tot with purchases and closing stock total cost of sales expenses is
NonAllowable Expense RENTAL EXPENSE Management fees, strata levies, Insurance
Speeding fines
Net capital gain Amity entered into a contract for the sale of a residential property that was acquired
in :
Capital proceeds
less: Purchase price
less: discount
A discount capital gain is a capital gain that satisfies the requirements of Subdiv A ss to
The discount percentage is: generally, if the gain is made by a resident individual if the gain is made by a trust, or if the gain is made by a complying superannuation entity.
Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
Posted Date: