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Forum/Forums/Diploma & Advanced Diploma Level/FNSACC601/Q1.10

Q1.10

    • 1 year, 11 months ago Liru Cang
      Guest

      <span style=”color: #4b4d4d; font-family: Arial, sans-serif;”><span style=”font-size: 14px;”>T</span></span>he total taxable income is $69,800 ( including $34900 excepted taxable income and $34900 eligible taxable income). Is the amount of LITO and LAMITO assessed based on total taxable income or excepted income only?

      Thanks.

    • 1 year, 11 months ago Liru Cang
      Guest

      Sorry about the typing above.
      <p style=”box-sizing: border-box; margin: 0px 0px 22px; color: #4b4d4d; font-family: Arial, sans-serif; font-size: 14px;”>The total taxable income is $69,800 ( including $34900 excepted taxable income and $34900 eligible taxable income). Is the amount of LITO and LAMITO assessed based on total taxable income or excepted income only?</p>
      <p style=”box-sizing: border-box; margin: 0px 0px 22px; color: #4b4d4d; font-family: Arial, sans-serif; font-size: 14px;”>Thanks.</p>

    • 1 year, 11 months ago Liru Cang
      Guest

      <span style=”color: #4b4d4d; font-family: Arial, sans-serif; font-size: 14px;”>The total taxable income is $69,800 ( including $34900 excepted taxable income and $34900 eligible taxable income). Is the amount of LITO and LAMITO assessed based on total taxable income or excepted income only?</span>

    • 1 year, 11 months ago James Chung
      Moderator

      Hi Liru,

      I cannot read your message above, so I try my best to answer it.

      Both of $34900 excepted taxable income and $34900 eligible taxable income are included when calculating the amount of LITO and LAMITO.

      regards

      • 1 year, 11 months ago Liru Cang
        Guest

        If both of $34900 excepted taxable income and $34900 eligible taxable income (total $69,800) are included for calculation of LITO & LAMITO, then LITO is nil, LAMITO will be be $530 rather than $200 provided in the solution. Is it correct?

    • 1 year, 9 months ago Chien Dang
      Guest

      Please advise why LAMITO is $200 and not $530.

      • 1 year, 8 months ago Kering
        Guest

        Hi Chien,

        Did you figure it out?

    • 1 year, 8 months ago Kering
      Guest

      Hi ,

      Did you guys figure out why?  @<span style=”color: #4b4d4d; font-family: Arial, sans-serif; font-size: 15px;”>Chien Dang, </span><span style=”color: #4b4d4d; font-family: Arial, sans-serif; font-size: 15px;”>Liru Cang.</span>

      I have the same question. thanks

    • 1 year, 8 months ago Kering
      Guest

      <p style=”box-sizing: border-box; margin: 0px 0px 22px; color: #4b4d4d; font-family: Arial, sans-serif; font-size: 14px;”>Hi ,</p>
      <p style=”box-sizing: border-box; margin: 0px 0px 22px; color: #4b4d4d; font-family: Arial, sans-serif; font-size: 14px;”>Did you guys figure out why?</p>
      <p style=”box-sizing: border-box; margin: 0px 0px 22px; color: #4b4d4d; font-family: Arial, sans-serif; font-size: 14px;”>I have the same question. thanks</p>

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