The trustees of the finebite superannuation fund

Assignment Help Financial Accounting

Reference no: EM133496249

Case: The trustees of the Finebite Superannuation Fund have provided the following details for the income year.

	Amount $
Inflows
Employer contributions	45,000
Spouse contributions	3,000
Rollover from another fund	20,000
Earnings from fixed interest securities	2,500
Franked dividends*	27,000
Outflows
Accounting fees	1,000
Auditor fee	3,000
Bank charges	975
Life insurance premiums paid	5,900

* Company tax at 30% has been paid

Required:

Show your workings and calculate the superannuation funds net tax payable

Reference no: EM133496249

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