In Year 1, Crocodile Pty Ltd has $600,000 of assessable income and $1,000,000 of deductions. In Year 2, Crocodile has $300,000 of exempt income, $200,000 of assessable income and $500,000 of deductions. In Year 3, Crocodile has $500,000 of assessable income, $200,000 of exempt income and $200,000 of deductions. 

Required: Advise Crocodile of its taxable income or tax loss in each year

Answer rating: 100% (QA)

Year1 Assessable Income 600000 Less Deduction 1000000 Tax Loss to be ca... View the full answer