Answered step by step
Verified Expert Solution
Question
1 Approved Answer
uestion 21 of 30 2.0 Points Mac Maleka is 53 years old and works for a training company as their Senior trainee officer. He purchased
uestion 21 of 30 2.0 Points Mac Maleka is 53 years old and works for a training company as their Senior trainee officer. He purchased a computer for R34 000 which he will use mainly for his work as trainee officer. YOU ARE REQUIRED to determine if the computer will be deductible in terms of the General Deduction Formula read together with section 23 of the Income Tax Act. A. No, all expenses relating to employment is prohibited by section 23(m) and therefore the R34 000 will not be deductible. B. No, only the wear and tear on the computer will be deductible per year as employment is seen as carry on a trade and it is specifically included as an allowable deduction in terms of section 23(m). C. Yes, the full amount of R34 000 will be deductible as it relates directly to his work, and employment is seen as carry on a trade and therefore included in the definition of the general deduction formula. OD. No, the full amount of R34 000 will not be deductible as employment is not seen as carry on a trade and therefore not included in the general deduction formula
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started