Question One - Sole trates Taadich(15 Marks Caterers Wholesele is awned and mssaned by Moetha Saldh. For the yeal of aktessment 2021, Moetha showad the following retults for the ertity's operatiess: Nenes: the purchace of a machina on lanulty 1 , 20121 and the remainder incurred to defend an iscone tax cace. Meesha was unsaccenful in her deteoce. 1i. All the amaunts fonated aere retated to registered tharities on the approved ctarnable tst,etcept toe 5350 boo which was doreted to the youth dit, is her csmmunity, which a not a cegatered charity. debts and the remainder s a soecifc debt for Trira Alerantor Acnold t. Travel inrludes \$S,00 oco incurred to negotate new business ayreenents, The thraider retates to airlise tikkets for famiz racation andigockit maney for Suzie and Cutie, Moesh's daughters. v. Advertising relates to the condtruction af a rew trilibated, Cenacructen was tampleted on befy 1, 2021. Simitar bilibeardz are allowad 204 annualy by Tar adminictration ibruica. Caqital allowancos were not included in the anaurts at note (vit) beirw. 51,000,005 with a wittes down value of $2,500,000. This anoust hat been included in the Capial allswarces in (wi) beiew vi. The entity had interest peyable of 45,000,000 and 53,000,000 on December 51 , 2020 and Decenter 31, 2021 respersiveiy. Muanwhic, interst taceivables were \$1,500te0 and 15.506goo for tae cane aresiespectivety. vii Capital allowance for the pears are as foliowk: ifitial Allowances 5tco0.000 Nioted. 1. Legal eupenses comprite 512,000,500 for dese fecosery, 59,600,000 so assist in the puschase of a mactine en tanuary 1. 2021 and the remakder incarnet th 1. All the amauras dunated nere ielated ta regsteres tharitier on the appriwed charnable listestcegt for $350,000 stich wos deneted to the youth ilub in ter 51,500.000 and \$3.50doco for the same cares respectively. vii. Cagital allowacce for the pars are acfollows: Intal Allowanves 58000.000 Amusi Aliowmices $7,000,000 Brianting allowances 55,000,000 IGutrtianinturancel. The cwTer's rustisnd is the benef ciany of the telity. The anount for wages and talarles incledec 510 millien paid to the nener's hutbavd for accousting services recdered =hen the effective markes rate for the tame service mas onfy four millen; Moscha aten taies a Salaer of 12 nilion. v. Mreshe pod tert, electricty ard weter chargei for the reat ef $5000,000, 53200000 and s90,0s0 respectively. It wa further asvertenet that orly fow of the tharpes relate to the busiresa the remainder a ottrituted to her home that islocated upstairs the wholesale. Al anouvts were paid in cash during the weat of ascessment. Question One - Sole trates Taadich(15 Marks Caterers Wholesele is awned and mssaned by Moetha Saldh. For the yeal of aktessment 2021, Moetha showad the following retults for the ertity's operatiess: Nenes: the purchace of a machina on lanulty 1 , 20121 and the remainder incurred to defend an iscone tax cace. Meesha was unsaccenful in her deteoce. 1i. All the amaunts fonated aere retated to registered tharities on the approved ctarnable tst,etcept toe 5350 boo which was doreted to the youth dit, is her csmmunity, which a not a cegatered charity. debts and the remainder s a soecifc debt for Trira Alerantor Acnold t. Travel inrludes \$S,00 oco incurred to negotate new business ayreenents, The thraider retates to airlise tikkets for famiz racation andigockit maney for Suzie and Cutie, Moesh's daughters. v. Advertising relates to the condtruction af a rew trilibated, Cenacructen was tampleted on befy 1, 2021. Simitar bilibeardz are allowad 204 annualy by Tar adminictration ibruica. Caqital allowancos were not included in the anaurts at note (vit) beirw. 51,000,005 with a wittes down value of $2,500,000. This anoust hat been included in the Capial allswarces in (wi) beiew vi. The entity had interest peyable of 45,000,000 and 53,000,000 on December 51 , 2020 and Decenter 31, 2021 respersiveiy. Muanwhic, interst taceivables were \$1,500te0 and 15.506goo for tae cane aresiespectivety. vii Capital allowance for the pears are as foliowk: ifitial Allowances 5tco0.000 Nioted. 1. Legal eupenses comprite 512,000,500 for dese fecosery, 59,600,000 so assist in the puschase of a mactine en tanuary 1. 2021 and the remakder incarnet th 1. All the amauras dunated nere ielated ta regsteres tharitier on the appriwed charnable listestcegt for $350,000 stich wos deneted to the youth ilub in ter 51,500.000 and \$3.50doco for the same cares respectively. vii. Cagital allowacce for the pars are acfollows: Intal Allowanves 58000.000 Amusi Aliowmices $7,000,000 Brianting allowances 55,000,000 IGutrtianinturancel. The cwTer's rustisnd is the benef ciany of the telity. The anount for wages and talarles incledec 510 millien paid to the nener's hutbavd for accousting services recdered =hen the effective markes rate for the tame service mas onfy four millen; Moscha aten taies a Salaer of 12 nilion. v. Mreshe pod tert, electricty ard weter chargei for the reat ef $5000,000, 53200000 and s90,0s0 respectively. It wa further asvertenet that orly fow of the tharpes relate to the busiresa the remainder a ottrituted to her home that islocated upstairs the wholesale. Al anouvts were paid in cash during the weat of ascessment
