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Mentos Lld has provided you with the following informalion pertaining to its income and expenses, profits and losses for the year: Gross income: R3 000000
Mentos Lld has provided you with the following informalion pertaining to its income and expenses, profits and losses for the year: Gross income: R3 000000 Tax-deductible expenses: R1 500000 Capial gain on sale of shares in Abe Ltd amounted to R500 000 and the capilal gain on sale of shares in Zaf Ltd was R350 000. However, the company sustained a capilal loss in sale of shares in Gupta Ltd of R250 000 . Mentos Ltd has an assessed loss of R160 000 carried forward from the previous year of assessment. The company lax rate is 28%. REQUIRED: 3.1 Calculate the tax payable by Mentos Ltd as at 28 February 2023. 3.2 Briefly discuss when capital gains may be taxed on a disposed assel should the Rollover requirements be met
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