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What is the current tax liability of a ltd

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Reference no: EM132953168

Question - The following information relates to A Ltd for the year ended 30 June 2021.

Accounting profit before income tax (see note marked * below) 125,000

Fines and penalties (not tax deductible) 7,500

Depreciation of plant (accounting) 25,000

Depreciation of plant (tax) 30,000

Long-service leave expense (not a tax deduction until the leave is paid) 8,000

Income tax rate 30%

*accounting profit after deducted all expenses for accounting purposes

What is the current tax liability of A Ltd for the year ended 30 June 2021, based on the information given above?

Reference no: EM132953168

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