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Calculate taxable income and tax payable

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Question - AB Laboratories Pty Ltd incurred an accounting net loss of $50,000 for the year ended 30 June 201X. This comprised income $500,000, eligible R&D expenses of $100,000 and other expenses $450,000. (Assume company tax rate is 30% and R&D refundable tax offset is 43.5%)

Required - Calculate taxable income and tax payable/(refundable).

Reference no: EM132587544

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