Question - During the year ended 30 June 2015 Harry Ltd, pays quarterly PAYG tax installments as follows:
$6000 on 28 July 2014
$2000 on 28 October 2014
$8000 on 28 February 2015
$10 000 on 28 April 2015.
On 30 June 2015, Harry Ltd determines its total current tax liability for the year to be $28 000. Compute the final tax installment for the year.
a. refund of $2000.
b. payment of $2000.
c. payment of $8000.
d. payment of $28 000.