Ngwenya (Pty) Ltd insures its trading assets on an annual basis. It pays a premium once a

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Ngwenya (Pty) Ltd insures its trading assets on an annual basis. It pays a premium once a year that covers the period from 1 October to 30 September. On 1 October 2022 it paid R144 000 as a premium on the insurance cover of its trading assets to 30 September 2023. How much is deductible by Ngwenya (Pty) Ltd in determining it's taxable income for the year of assessment ended 28 February 2023. O a. R144 000 O b. R60 000 O c. R100 000 O d. R nil

Posted Date: May 18, 2024 04:12 AM

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