Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Kyle is a South African resident, aged 36 years. He owns a bar in Bloemfontein. Due to the good reputation and popularity of his
Kyle is a South African resident, aged 36 years. He owns a bar in Bloemfontein. Due to the good reputation and popularity of his business, Kyle needed to appoint two bouncers to ensure the safety of his customers and to minimise fights. During the 2022 year of assessment one customer had five drinks too many and started a fight with another customer. One of the bouncers tried to control the issue and stop the fight; however, he ended up having two of his ribs broken. The fight was eventually stopped by the other bouncer. Kyle incurred costs amounting to R76 000 to cover the medical expenditure of the bouncer who got injured. Kyle will not be allowed to deducted the R 76 000 when calculating his taxable income. Qu No M Select one: True O False Previous page
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