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Jason runs his own business as a self-employed photographer. When preparing Jason's income tax return for the year ended 30 June 2024, you note the following: S Current year assessable income 122,000 Current year deductions (excluding deductible superannuation contributions) 74,000 Current year superannuation contributions (not included in the $74,000 above) 8,200 Current year net exempt income 3,600 Tax loss carried forward from the 2022 income year 14,400 Given this information, Jason's taxable income for the year ended 30 June 2024 is: Group of answer choices $33,600 $37,200 $25,400 $29,000

Jason runs his own business as a self-employed photographer. When preparing Jason's income tax return for the year ended 30 June 2024, you note the following: S Current year assessable income 122,000 Current year deductions (excluding deductible superannuation contributions) 74,000 Current year superannuation contributions (not included in the $74,000 above) 8,200 Current year net exempt income 3,600 Tax loss carried forward from the 2022 income year 14,400 Given this information, Jason's taxable income for the year ended 30 June 2024 is: Group of answer choices $33,600 $37,200 $25,400 $29,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Jason runs his own business as a self-employed photographer. When preparing Jason's income tax return for the year ended 30 June 2024, you note the following: S Current year assessable income 122,000 Current year deductions (excluding deductible superannuation contributions) 74,000 Current year superannuation contributions (not included in the $74,000 above) 8,200 Current year net exempt income 3,600 Tax loss carried forward from the 2022 income year 14,400 Given this information, Jason's taxable income for the year ended 30 June 2024 is: Group of answer choices $33,600 $37,200 $25,400 $29,000
Transcribed Image Text:Jason runs his own business as a self-employed photographer. When preparing Jason's income tax return for the year ended 30 June 2024, you note the following: S Current year assessable income 122,000 Current year deductions (excluding deductible superannuation contributions) 74,000 Current year superannuation contributions (not included in the $74,000 above) 8,200 Current year net exempt income 3,600 Tax loss carried forward from the 2022 income year 14,400 Given this information, Jason's taxable income for the year ended 30 June 2024 is: Group of answer choices $33,600 $37,200 $25,400 $29,000
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