Tax advise for purchasing warehouse legally advise

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Tax advise for purchasing warehouse Legally advise for setting new company Tea and coffee Rent expense Prepaid rent Other tax-deductible expenses 2018 Taxable Income Lounge About Pty Ltd
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Note crease taxable income decrease taxable income SECT 149.10: pre-CGT asset, exempt from assessble income Tax Reconcili for the year ended 30 June Section 207-20(1) of ITAA (1997) Section 25-35 of the ITAA (1997) 58P of FBTAA 1986; S32-5 of ITAA (1997) Section 32-10(2)of ITAA (1997) SECT 82KZL of ITAA (1936) Section 6-5 of ITAA (1997) Section 44(1)(a) of ITAA (1936) Section 8-1 of ITAA (1997) Section 25-35 of the ITAA (1997) Section 25-5 of ITAA (1997) Section 25-5 of ITAA (1997) Section 40-880 of ITAA (1997) Taxation Ruling IT 2675, para.2 Section 8-1 of ITAA (1997) SECT 82KZL of ITAA (1936) Section 8-1 of ITAA (1997)
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$ 2,240,000 15,000 22,000 6,000 8,000 30,000 81,000 680,000 680,000 27,450,000 35,000 10,102,780 6,000 10,000 6,000 20,000 2,500 1,380,000 30,000 14,301,720 1,641,000 iation 2018
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Items N/A N/A $15,000 $680,000 N/A N/A N/A N/A Adjustment s Sales revenue Dividend revenue Franking credits Profit on sale of land Cost of Goods Sold Tax advice for tax ordered Tax advice for purchasing warehouse Legally advice for setting new company
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$6,000 N/A $8,000 $30,000 Christmas party Tea and coffee Client lunch Rent expense
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$22,000 Doubtful debts expense
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References Section 6-5 of ITAA (1997), the gross sales arising from the sale of trading stock give rise to ordinary income, therefore there is no change. Section 44(1) (a) of ITAA (1936), dividends should be included in the assessable income, therefore there is no change. S207-20(1) of ITAA (1997) If an entity makes a franked distribution to another entity, the assessable income of the receiving entity, for the income year in which the distribution is made, includes the amount of the franking credit on the distribution. This is in addition to any other amount included in the receiving entity's assessable income in relation to the distribution under any other provision of this Act. Franking credit = $35,000 x 30/70 x 100% =15,000
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