During the financial year ending 31 March 2018, Pacific (Pty) Ltd, a resident company made the following distributions:
 15 April 2017 – General repurchase of shares, in compliance with the listing requirements of the JSE, amounting to R50 000. The repurchase was entirely funded by share premium
 20 May 2017 – Capitalization issue of equity shares amounting to R130 000
 1 September 2017 – Dividend in specie (trading stock) to shareholders that cost R50 000. The market value was R85 000. The directors stated that the distribution represents R15 000 contributed tax capital.
 15 January 2018 - Repayment of R80 000 of contributed tax capital

Calculate the dividends tax liability for Pacific (Pty) Ltd in respect of all dividends declared by the company.

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The dividends tax liability for Pacific Pty Ltd in respect of all dividends d... View the full answer