The tax base is defined in AASB 112 as:

Question

Quizplus · Accepted Answer

The tax base is defined as the amount attributed to an asset or liability for tax purposes. This represents the amount that will be used to calculate taxable income and hence the tax obligation. AASB 112 specifies that when calculating income tax, the tax base is determined by reference to the applicable tax law.

Answer: E 
 None of the other options accurately define the tax base as it is described in AASB 112. Only option C provides an accurate definition.

The Tax Base Is Defined in AASB 112 As