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Required: Calculate the tax lisbility for each of the following entities using the corroct basic formula: 2 1 A sole proprietorship with year - end
Required: Calculate the tax lisbility for each of the following entities using the corroct basic formula: A sole proprietorship with yearend Feturuary : aik The owner, aged estimates his business sales will be R for the relevant assessment year. He incurred expenses amounting to R in the production of income. He also received interest of R and paid provisional tax in the amount of R for the year. A parinerstip that shares equally in the profits and losses with yearend February : Bath partners, aged had partnership sales of R and allowable section a deductions of R The parinersive received R interest for the year on the partnership bank account. A company with yearend February The company had sales of RD and incurred expenses in the production of income amounting to R In addition, the company received interest of R from a South African source. The company paid provisional tax of R for the relevant year of assessment A close corporation with yearend January The close corporation had business income of R and incurred expenses in the production of income to the amount of R for the relevant assessment year. In addition, the close corporation received dividends from a South African source to the amount of R A company that qualifies as a Small Business Corporation SBC in terms of section E of the income Tax Act No of as amended with yearend March :
Required:
Calculate the tax lisbility for each of the following entities using the corroct basic formula:
A sole proprietorship with yearend Feturuary : aik
The owner, aged estimates his business sales will be R for the relevant assessment year. He incurred expenses amounting to R in the production of income. He also received interest of R and paid provisional tax in the amount of R for the year.
A parinerstip that shares equally in the profits and losses with yearend February :
Bath partners, aged had partnership sales of R and allowable section a deductions of R The parinersive received R interest for the year on the partnership bank account.
A company with yearend February
The company had sales of RD and incurred expenses in the production of income amounting to R In addition, the company received interest of R from a South African source. The company paid provisional tax of R for the relevant year of assessment
A close corporation with yearend January
The close corporation had business income of R and incurred expenses in the production of income to the amount of R for the relevant assessment year. In addition, the close corporation received dividends from a South African source to the amount of R
A company that qualifies as a Small Business Corporation SBC in terms of section E of the income Tax Act No of as amended with yearend March :
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