Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 (52 marks) 1.1 Bongani (aged 69 years) is currently employed by Vick Limited. Monthly salary is R29 166.67, and he earned local interest

image text in transcribed

Question 1 (52 marks) 1.1 Bongani (aged 69 years) is currently employed by Vick Limited. Monthly salary is R29 166.67, and he earned local interest of R3 250 each quarter, local dividends of R2 750 bi-annual, an annual bonus of R20 000 and he made contributions of R25 000 to the Vick Limited pension fund during the year of assessment. Bongani won R5 500 in the South African lottery on 27 February 2023. Vick Limited paid R5 000 employees' tax on behalf of each employee for the year of assessment

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

Students also viewed these Accounting questions