Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. as his taxable income in 2015 was nil, mark felton

As his Taxable Income in 2015 was nil, Mark Felton did not make any instalment...

90.2K

Verified Solution

Question

Accounting

As his Taxable Income in 2015 was nil, Mark Felton did not make any instalment payments during 2016. In completing his return for 2016, he finds that he has tax payable of $22,500. While his normal filing date would be April 30, 2017, he does not file his return or pay the balance owing until September 12, 2017. What penalties and interest will be assessed for the 2016 taxation year? Mark has filed his return on time in all previous years

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students