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Mr. Kazi Kwisha is an employee of Malenge Limited. He has provided you with the following information for the year ended 31 st December, 2019.
Mr. Kazi Kwisha is an employee of Malenge Limited. He has provided you with the following information for the year ended 31st December, 2019.
- Basic salary per month sh. 45,000 (PAYE sh. 3,000) and was given a bonus of sh. 90,000 at the year end.
- Pension from previous employment is sh. 30,000 p.m.
- Staff meals provided by the employer sh. 3,000 p.m.
- He is housed by the company which deducts sh. 3,000 from his pay as rent.
- He is provided with a company car with an engine capacity of 2,000 cc whose value as at 1st January 2019 was sh. 600,000.
- He contributed sh. 400,000 during the year to a registered pension scheme.
- He owns a poultry farm. The following information was extracted from the farm records for the year ended 31st December 2019;
- Gross farm receipts sh. 100,000
- Labour wages sh. 80,000
- Miscellaneous expenses sh. 40,000
Required:
- Calculate the taxable income, if any, for Mr. Kazi Kwisha for the year ended 31st December 2019.
- Calculate the tax payable, if any, Mr. Kazi Kwisha for the year ended 31st December 2019.
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