Answered step by step
Verified Expert Solution
Question
1 Approved Answer
BZ received a salary of R34 000 for the year ended 31 March 2013. BZ also received a bonus of R1 700 and benefits in
BZ received a salary of R34 000 for the year ended 31 March 2013. BZ also received a bonus of R1 700 and benefits in kind valued at R2 150. BZ was entitled to a personal tax allowance of R5 750 for the year. Personal taxation rates that apply to BZ are 20% for the first R20 000 of taxable earnings and 40% on the balance.
Required: Prepare an income tax computation for BZ for the year ended 31 March 2013. (7 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started