Reference no: EM133051498
Question - Devi Pty Ltd is a resident private company. It provided the following information in relation to the current income tax year:
$ Accounting net profit 800,000
Details of amounts included in the accounting net profit:
Accounting depreciation 90,000
Profit on disposal of capital assets 150,000
Provision for long service leave 160,000
Provision for doubtful debts 60,000
Details of amounts not included in the accounting net profit:
Net capital gain 80,000
Depreciation for taxation purposes 120,000
Bad debts written off 30,000
Required - What is Devi's taxable income in the current income year?