Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ngwenya (Pty) Ltd leases a one-bedroom flat in Durban for a one-year period from 1 August 2021 to 31 July 2022 for its employees who

image text in transcribed
Ngwenya (Pty) Ltd leases a one-bedroom flat in Durban for a one-year period from 1 August 2021 to 31 July 2022 for its employees who must travel from other locations to work in Durban for extended periods of time. The company paid the annual rental of R160 000 in advance on 1 August 2021. How much is deductible by Ngwenya (Pty) Ltd in determining its taxable income for the year of assessment ended 28 February 2022. O a. R66 667 O b. R160 000 O CR93 333 O d.R nil Time left 2:35:08 Question 14 Not yet answered Marked out of 1.00 Flag question Next page Fin

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

More Books

Students also viewed these Accounting questions

Question

Do opiates increase or decrease itch sensations?

Answered: 1 week ago