Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question - Mr Coney, an SA resident, aged 49 and an employee of Trading Limited, was retrenched on 31 May 2018 when Trading Limited had effected a general reduction of staff. In terms of his retrenchment package he received a lump sum of R60 000. In addition, he was paid out an amount of R6 000 in respect of leave that was due to him. For the period ended 31 May 2018 Mr Coney had earned a salary of R9 000 per month. This was unfortunately the second time that Mr Coney had lost his job. The first time was in 2016 when his employer ceased carrying on the trade by which Mr Coney was employed. His employer paid him an amount of R8000 as compensation at that time. Mr. Coney used part of his lump sum to purchase an annuity, at a cost of R40 000, on 01 July 2018 for 10 years from an insurer. Under this contract Mr. Coney was to receive R600 per month commencing from 31 July 2018. Mr. Coney used the monthly income to invest R600 in unit trusts (capital investment). Mr. Coney received interest of R100 and local dividends of R160 for the year ended 28 February 2019 in respect of the unit trusts. Mr. Coney also received the following in respect of the year ended 28 February 2019: - Interest on special savings accounts R23 000 - Rentals from a flat inherited from his late father R55 000 - Annuity from a domestic family Trust R12 000 The annuity was funded equally out of South African dividend and interest income.
Required - Calculate Mr. Coney's taxable income for the year of assessment ended 28 February 2019?
Using the information provided above, calculate the cost of debt of the company and calculate the cost of equity of the company
Avery Company manufactures a product called Deluxe. Prepare a direct materials budget for the Deluxe product for the third quarter of 2012
They have itemized deductions of 11,750 and four exemptions. Assuming an adjusted gross income of 40,000, what is their taxable income for 2009
Tega Limited has just made an investment of R390 000 in a new machine. Determine the Accounting / Average Rate of Return (ARR)
How many of each type of unit should be produced and sold to maximize the company's contribution margin?
manatee company closes its books monthly. on september 30 selected ledger account balances are notes
Ioane Air Transport Ltd provides flights to Lord Howe Island for holidays. It uses a plane that was purchased for $50m on 1 July 2010. At the time it had.
Heather will invest $200 per month for the next 8 years. At a rate of 7.5% per year, how much money will Heather have after 8 years
What is the difference between a dealer and a broker in terms of, (i) function, (ii) compensation, (iii) exposure to risk
Rob, Chris, and Matt are in a partnership that provides banking services. Provide income allocations for all partners for 2013 and 2014
tiger equipment inc. a manufacturer of construction equipment prepared the following factory overhead cost budget for
What are LNS's minimum first, second, third, and fourth quarter estimated tax payments, using the annualized income method
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd