Holiday Fun Pty Ltd ran a caravan and leisure resort but ran into financial problems and for the year ended 30 June 2019 the company made a tax loss of $80,000. On 1 July 2019 the company decided to change its business completely and closed down the caravan and leisure resort and instead operated a public hotel in the town. For the year ended 30 June 2020, Holiday Fun Pty Ltd made a net profit (before any losses were applied) of $140,000. What is Holiday Fun's taxable income for the year ended 30 June 2020?

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The Answer of Holiday Fun Pty Ltd ran a caravan and leisure resort but ran into financial problems and for the year ended 30 June 2019 the company made a tax loss of $80,000. On 1 July 2019 the company decided to change its business completely and closed down the caravan and leisure resort and instead operated a public hotel in the town. For the year ended 30 June 2020, Holiday Fun Pty Ltd made a net profit (before any losses were applied) of $140,000. What is Holiday Fun's taxable income for the year ended 30 June 2020?

Holiday Fun Pty Ltd Ran a Caravan and Leisure Resort