Question: Langemeier is 2 0 years old. During the current year of assessment, she contributed R 6 2 5 0 0 into a retirement fund. Her

Langemeier is 20 years old. During the current year of assessment, she contributed R62500 into a retirement fund. Her employer contributed R24000 to her retirement fund. You may assume that her remuneration and taxable income before any deduction is R500000. YOU ARE REQUIRED to determine her taxable income for the current year of assessment.
a.
R476000
b.
R500000
c.
R586500
d.
R413500

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1)-An investor considers to invest 150 000 TL for the next year. This investor has 3 options. The first option is to buy a government bond which was issued 4.5 years ago when the market interest...

Q:

Loral is 28 years old. During the current year of assessment, he earned a salary R500 000. He contributed R60 000 to his retirement fund. His employer contributed R65 000 to his retirement fund. He...

Q:

Loral is 28 years old. During the current year of assessment, he earned a salary R500 000. He contributed R60 000 to his retirement fund. His employer contributed R65 000 to his retirement fund. He...

Q:

Martini is 40 years old. During the current year of assessment, he earned a salary of R220 000 and commission of R80 000. He contributed R1 500 per month to a retirement annuity fund for the full...

Q:

Martini is 40 years old. During the current year of assessment, he earned a salary of R220 000 and commission of R80 000. He contributed R1 500 per month to a retirement annuity fund for the full...

Q:

Assaraf is 2 6 years old. During the current year of assessment, his taxable income before any deduction is R 4 0 0 0 0 0 . His remuneration is R 3 8 0 0 0 0 . He contributed R 5 0 0 0 0 to his...

Q:

Assaraf is 2 6 years old. During the current year of assessment, he earned a salary of R 4 0 0 0 0 0 . His remuneration is R 3 8 0 0 0 0 . He contributed R 5 0 0 0 0 to his retirement fund. His...

Q:

Assaraf is 26 years old. During the current year of assessment, he earned a salary of R400 000. His remuneration is R380 000. He contributed R50 000 to his retirement fund. His employer contributed...

Q:

Anthony is 5 8 years old. During the current year of assessment, he earned a salary R 5 4 4 0 0 0 . He contributed R 6 7 0 0 0 to a provident fund. Antony and his employer contributed R 6 2 0 0 0...

Q:

Rachel is 64 years old. During the current year of assessment, she earned a salary R556 000 . Her employer gave her fre use of residential accommodation. The taxable fringe benefit was correctly...

Q:

Anthony is 58 years old. During the current year of assessment, he earned a salary R544 000 . He earned local dividends of R2 000 and local interest of R33 000 . He contributed R67 000 to a provident...

Q:

Dimensional analysis, consider the flow system described in the first paragraph of S14.3, for which dimensional analysis has already given the dimensionless velocity profile (Eq. 6.2-7) and...

Q:

J. Sainsbury plc operates Sainsburys Supermarkets, Britains longest-standing major food retailing chain with 934 stores throughout the United Kingdom and sales of nearly 21 billion in 2011. The...

Q:

suppose that two population proportions are being compared to test whether there is any difference between them Assume that the test statistic has been calculated to z221 find the pvalue for this...

Q:

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.