Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jamal received a salary of 47,000 (PAYE deducted in year 5,000) and 10,000 deposits interest in the bank for the tax year. What is tax

  1. Jamal received a salary of 47,000 (PAYE deducted in year 5,000) and 10,000 deposits interest in the bank for the tax year.

What is tax payable for the year?

  1. Ragad uses her own vehicle to complete in the company. During the taxable year she derived 100,000 km and the company paid for her 0.70 per km.

Instruction: Calculate the total Allowable deduction in her income for the tax year, if the statutory approved allowance as the following:

  1. 0km-10,000km 0.20
  2. 10,001km 15,000km 0.37
  3. 15,001km 25,000km 0.50
  4. 25,001km and more 0.8

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Interest Theory

Authors: Leslie Jane, James Daniel, Federer Vaaler

3rd Edition

147046568X, 978-1470465681

Students also viewed these Accounting questions