Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cuestioh 1 sam sthole is a resident of the repub

CUESTIOH 1 Sam Sthole is a resident of the Republic. He is 47...

80.2K

Verified Solution

Question

Accounting

CUESTIOH 1
Sam Sthole is a resident of the Republic. He is 47 years old and is married in community of property.
pom:
The following information relates to the 2023 year of assessment for Sam and his wile, Meg.
Income from a South African source.
A salary of R550000 from his employer, a motor manufacturing company.
He does part-ine academic work for a private higher educaton college and earned an income of R110000 as part of his business income for the year of assessment.
Net rentals of R90000 was earned from a bachelor flat in Margate.
Interest of R34000 was earned from various stort-term investments.
Income from a South African source for Meg:
Rent receved from an outhouse on ther propety anourted to R60 C00 expenses for the year. His employer contribued R40000 to the nedcal schene durng the year.
Required:
Calculate Sam Stholes fomal tax lab ity for the 2023, ear of assessment.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Gibson’s Gym is a fitness and aerobic center located in Austin,TX. With over 25,000...

Statistics
1.2K views

Chapter P, Section 1, Exercise 042 Pancakes A friend makes three pancakes for breakfast. One of the...

Physics
1.2K views

An astronaut shipwrecked on a distant planet is on top of a sheer vertical cliff (let’s...

Accounting
1.2K views

Please discuss the criteria that an auditor uses to make a decision to either apply analytical...

Physics
1.2K views

45 A rigid ball of mass m strikes a rigid wall at 60 and gets...

Geometry
1.2K views

Tangent 160 to 51 What is the value of x X

Basic Math
1.2K views

5 1 point In a linear model the first differences are IELIETE

Basic Math
1.2K views

A carousel is being designed for the Spring Festival. The horses will be mounted to...

Calculus
1.2K views

Simplify the following expression 3 d dp dx S 2 7 P tu dp C

Algebra
1.2K views

1 Solve the following exponential equation 1 625 54 3

Accounting
1.2K views

colvin corporation issued 5000 shares of $3 value common stock for $8 Per...

Accounting
1.2K views

The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales Net operating...