Question
Stay Well Pty Ltd is in the business of letting out properties in around Gaborone. The following are the details of its operation for the
Stay Well Pty Ltd is in the business of letting out properties in around Gaborone. The following are the details of its operation for the year ended 30 June 2022.
Gross Rentals 800 000
Expenses:
Repairs and maintenance 32 000
Bank charges 18 000
Rates 12 000
Garbage collection charges 8 000
Electricity & water charges 4 500
School fees Directors children 12 000
Drawings 8 000
You are requested to compute:
(a). The chargeable income for the year. (10 marks)
(b). The tax liability (3 marks)
(c). The installment amounts payable under Self Assessment Tax. (7 marks
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