Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Where a farmer has been allowed to deduct capital allowances in respect of farming assets and they subsequently self one of those ansets for move

Where a farmer has been allowed to deduct capital allowances in respect of farming assets and they subsequently self one of those ansets for move than
its tax value, then, in terms of section B(4)(a) of the Act, they must include this proft in ther income as a recoupment.
True
Falce
image text in transcribed

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

Recommended Textbook for

Financial Accounting Essentials You Always Wanted To Know Self Learning Management Series

Authors: Vibrant Publishers , Kalpesh Ashar

5th Edition

1636510973, 978-1636510972

More Books

Students also viewed these Finance questions

Question

Explain what LIFO means.

Answered: 1 week ago