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| *The Commerce Journal>>>Australia Taxes |
How do you calculate income tax when generating a net profit after two net losses? |
Say a firm has a net loss of 8803 in one month and 6573 in the second month. In month three, it makes a profit (before income tax) of 20824. There are no dividends and the retained profits at the start of the month are -6573. How do I calculate income tax for that month, assuming we are taking into account the previous net losses? Can't tell you about Australia. roughly speaking...net loss from the previous 2 months: |
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