$110,890 PAYG Instalments: The Company made the following payments of income tax
$110,890
PAYG Instalments: The Company made the following payments of income tax to the ATO:
· 1 October 2016 – $120,000
· 1 January 2017 – $120,000
· 1 April 2017 – $140,000
· 30 June 2017 – $120,000
REQUIRED:
Please calculate the tax payable for the company. You are required to provide a brief explanation of each item and why it is included or excluded.