‘Socrative discussion 1; Pre-class
AASB112- Income Taxes
Questions
4. What is the benefit of having current and defe
re tutuck deosions made by
e carves
ax payable
tax payable
Net Assets
nk loan = $700,009
The TV license is sold for $900,000 and through the sale, tnere was a capital
of $800,
pital gain fram sale- 30% of 800,000 =
Remaining sales proceeds are- 900,000 - 240,00
the remaireng proceeds from the sale are lower than the value of the bank loan, There
would be an issue wilh the repayment of the joan, ( due to the capital gains tax which is a
Geterred tax payme!