In the previous year, Old Grandma Chill Sauce Ltd had made a tax loss of...
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Accounting
In the previous year, Old Grandma Chill Sauce Ltd had made a tax loss of $105,000 for which it had recognized a deferred tax asset. The taxable profit for the current year before tax loss recoupment is $210,000. ABC Ltd had exempt income of $24,000. Ignore all other temporary differences. Tax rate is 30%. What is the current tax liability of ABC Ltd after recoupment of the tax loss?
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