Determine the tax payable by superannuation fund


Question: The smith family self managed superannuation fund profit and loss for the year ended 30 June 2024. Rent:$29,000, dividends: $14,000, trust distribution: $34,000, employer contributions: $75,000, member non-concessional contribution:450,000, unrealized profit: $50,000, total income= $652,000 and then the expense: accounting/audit fees: $3,800, supervisor levy:$180. Property expense (deductible): $8,500, total profit=. $12,480 and net profit= $639,520. Determine the tax payable by superannuation fund for the year ended 30 June 2024. It is also a complying superannuation fund

 

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Accounting Basics: Determine the tax payable by superannuation fund
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