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What is the amount of deferred tax liability

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Reference no: EM132699068

The accounting profit before tax of Sahara Ltd for the year ended 30 June 2020 was $100 000. The following information is taken from the financial statements for Sahara Ltd for the year ended 30 June 2020.

Additional information:

The tax depreciation rate for plant is 20% per annum using the straight-line method.
The tax rate is 30%.

Required:

Question a) What is the amount of Current Tax Payable by Sahara Ltd for the year ended 30 June 2020?

Question b) What is the amount of Deferred Tax Liability that would be recognised by Sahara Ltd in their statement of financial position at 30 June 2020?

Question c) What is the amount of Deferred Tax Asset that would be recognised by Sahara Ltd in their statement of financial position at 30 June 2020?

Reference no: EM132699068

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