Question
Joseph (66) owns an investment in a money market fund worth R450000 for which he expects to earn 8.3% interest for the tax-year.In addition, he
Joseph (66) owns an investment in a money market fund worth R450000 for which he expects to earn 8.3% interest for the tax-year.In addition, he has invested R200000 in a SA Retail Savings bond which will pay interest at 7.5% for the tax-year.He owns listed shares from which he received dividends of R150000 for the tax-year.Joseph's marginal tax-rate is 30%.
You are required to calculate and advise Joseph on his total tax liability the aforementioned investments will attract.(You can ignore any tax rebates in your response to Joseph).
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
