Ben Rawiller, a resident taxpayer operates an electrical goods store. During the 2021/22 tax year, Ben...

 

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Ben Rawiller, a resident taxpayer operates an electrical goods store. During the 2021/22 tax year, Ben had the following transactions: Sales Purchases of Trading Stock Stock-1 July 2020 $ 2,927,800 1,385,680 458,470 401,800 49,300 Stock - 30 June 2021 (cost) Stock donated to registered charities at market value (deductible) Other deductible expenses Trading stock destroyed due to flooding in store Using the above data, calculate Ben's taxable income for 2021/22. 582,370 83,490 Ben Rawiller, a resident taxpayer operates an electrical goods store. During the 2021/22 tax year, Ben had the following transactions: Sales Purchases of Trading Stock Stock-1 July 2020 $ 2,927,800 1,385,680 458,470 401,800 49,300 Stock - 30 June 2021 (cost) Stock donated to registered charities at market value (deductible) Other deductible expenses Trading stock destroyed due to flooding in store Using the above data, calculate Ben's taxable income for 2021/22. 582,370 83,490

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To calculate Ben Rawillers taxable income for the 202122 tax year we need to consider the following ... View the full answer