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What is the current tax liability of Gail Ltd

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Question - The following information relates to Gail Ltd for the year ended 30 June 2020. Accounting profit before income tax $100,000 Fines and penalties (not tax deductible) 12,500 Depreciation of plant (accounting) 15,000 Depreciation of plant (tax) 40,000 Long-service leave expense (not a tax deduction until the leave is paid) 4,000 Income tax rate 30% accounting profit after deducted all expenses for accounting purposes. What is the current tax liability of Gail Ltd for the year ended 30 June 2020, based on the information given above?

Reference no: EM132632899

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