Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Winston is 6 6 years old and unmarried. Winston also owns shares in a foreign company. During the current year of assessment, received the following

Winston is 66 years old and unmarried. Winston also owns shares in a foreign company. During the
current year of assessment, received the following income: Salary of R920000; Bonus of R90000
and Interest income from a South African Bank of R45000. He made a donation of R36000 to a
public benefit organisation. Winston received the section 18A receipt. A total contribution of R79
190 was made to Wiston's retirement fund. His employer contributed R50000 of the total
retirement fund contributions. YOU ARE REQUIRED to determine taxable income before any
deductions.
A) R1010000
B) R1096000
C) R1020500
D)1070500
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

Intermediate Accounting Reporting and Analysis

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

2nd edition

9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828

More Books

Students also viewed these Accounting questions