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Determine what the current tax liability is

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Reference no: EM132637097

The following information relates to Hoover Limited for the year ended 30 June ZOXX.

Accounting profit before income tax (after all expenses have $280,000 been included)

Fines and penalties 22,000

Depreciation of plant (accounting) 50,000

Depreciation of plant (tax) 110,000

Long-service leave expense (not a tax deduction until the leave 10,000 is paid)

Income tax rate 30%

No employee has been paid long-service leave in the current year.

Problem 1: On the basis of this information the current tax liability is:

Reference no: EM132637097

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