Lease: Income tax payment and Lease

Lease
Income tax payment and Lease
[Type the document subtitle]
[Type the author name]
University Name-

Table of Contents
Required-1(a).....................................................................................................................................2
(b)......................................................................................................................................................4
©.......................................................................................................................................................4
Requirement-2.......................................................................................................................................4
2(a)....................................................................................................................................................4
2(b)....................................................................................................................................................5
2 ©....................................................................................................................................................5
2 (d)...................................................................................................................................................6
References.............................................................................................................................................7

This will reveal all the applicable laws and standards which will reflects the amount
of lease liabilities and right to use assets cost in accordance with the AASB 16 lease (Hoitash,
and Hoitash, 2017).
Requirment-1
1(a)
Determine the lease liabilities and right to use assets in accordance with the AASB 16
lease
Computation of the lease liabilities
Year Lease rent PVF@10% PV
2021 50000 0.90909091 45454.5455
2022 50000 0.82644628 41322.314
2023 50000 0.7513148 37565.74
2024 50000 0.68301346 34150.6728
2025 50000 0.62092132 31046.0662
2026 50000 0.56447393 28223.6965
PV of lease liabilities 217763.035