1. During the year ended 31 March 2021, Mokoto, a sole trader and resident individual incurred...

 

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1. During the year ended 31 March 2021, Mokoto, a sole trader and resident individual incurred the following expenses: M2,500 for entertaining his employees M700 for renewal of trader's license. The amount included M200 for penalty of late renewal M6,000 for training his accountant who is a citizen on Lesotho. The training was conducted by a local training institution. Mokoto always claims the maximum allowable deduction in each year of assessment. What is the allowable expenditure for Mokoto? 2. Ntebo has different sources of income. For the year ended 31 March 2021, her receipts were as follows: Employment income Business income Notes: (i) M 201,500 Gross income Expenses (see notes below) Ntebo realized a trading loss of M27,500 at the year ended 31 March 2020 which is not included in the above information. 380,000 368,000 Included in expenses is M12, 500 for pension contributions by Ntebo on behalf of her 2 permanent employees. Each employee earns a salary of M75,000 per annum, the cost of which is also included in the expenses of M380,000. Each employee contributed M3,500 per annum which is not included in the above information because they contributed from their personal coffers.. What is the tax payable by Ntebo for the year ended for the year ended 31 March 2021; and the due date of payment of tax? 1. During the year ended 31 March 2021, Mokoto, a sole trader and resident individual incurred the following expenses: M2,500 for entertaining his employees M700 for renewal of trader's license. The amount included M200 for penalty of late renewal M6,000 for training his accountant who is a citizen on Lesotho. The training was conducted by a local training institution. Mokoto always claims the maximum allowable deduction in each year of assessment. What is the allowable expenditure for Mokoto? 2. Ntebo has different sources of income. For the year ended 31 March 2021, her receipts were as follows: Employment income Business income Notes: (i) M 201,500 Gross income Expenses (see notes below) Ntebo realized a trading loss of M27,500 at the year ended 31 March 2020 which is not included in the above information. 380,000 368,000 Included in expenses is M12, 500 for pension contributions by Ntebo on behalf of her 2 permanent employees. Each employee earns a salary of M75,000 per annum, the cost of which is also included in the expenses of M380,000. Each employee contributed M3,500 per annum which is not included in the above information because they contributed from their personal coffers.. What is the tax payable by Ntebo for the year ended for the year ended 31 March 2021; and the due date of payment of tax?

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1The allowable expenditure for entertaining Mokotos employees is M2500 the allowable expenditure for training Mokotos accountant who is a citizen on L... View the full answer