Question
1. Neto is on a salary of 50,000 for the year 2020/21. He also earned rental profits of 15,000 in the year, before the deduction
1. Neto is on a salary of 50,000 for the year 2020/21. He also earned rental profits of 15,000 in the year, before the deduction of mortgage interest of 5,000. The profits are from letting of his residential property. What is Netos income tax liability for 2020/21?
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Financial Reporting and Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
7th edition
978-1259722653
