Question - Private Health Pty Ltd derives $400,000 net trading income from Australian sources during the current tax year. The company also earns the following:
- $56,000 - Franked dividend from public companies with an imputation credit of $24,000.
- $50,000 - Unfranked dividend from resident private companies.
- $20,000 - Interest income.
Assume Private Health Pty Ltd is a small business entity.
Calculate the net tax payable of Private Health Pty Ltd Ltd for the year ending 30 June 2017.