Calculate the net tax payable by Melbourne Awesome Ltd for the year ended 30 June 2019. (Assume company tax rate is 30%)

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A: Tax refers to the mandatory charge levied by the government over the earnings gained by an entity.

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Q: net tax payable

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A: Wren Writers Ltd. is an Australian company which is a resident for tax purposes Aggregate turnover…

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A: Tax payable = tax rate * (income - deductions)

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A: Formula used:

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A: Federal tax is regulated by IRS which collects money based on earned income

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