Sapphire Jewellery Pty Ltd (SJ) is a resident private company. During the 2023 income year, SJ recorded an accounting profit of $80,000 In addition to the transactions recorded in the financial statements, SJ noted the following: SJ sold shares held as an investment for $45,000. The shares were purchased in 2017 for $25,000.

Calculate the taxable income of SJ for the 2023 income year.

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To calculate the taxable income of Sapphire Jewellery Pty Ltd SJ for the 2023 in... View the full answer