Question 1 (10 Marks) Mr Alfred Johannes is a sales manager at Alfred Group of Companies Ltd (AGC) a Namibian incorporated company. During the year, he have been earning a salary of N$10 000 per month and the last two months it was N$12 000 due to a promotion that happened. Because of the good performance of AGC under a very severe economic condition, he received a bonus of N$8 000. Alfred received additional income of the leave pay cash pay-out of N$2 000 and he was allowed to use the company car (incl. all costs) with a cost of N$80 000. Since he moved from the Ongwediva branch to the Windhoek branch, he got a free 2-room house in Whk, for an entertainment allowance of N$24 000 and rent from a second house N$36 000. Alfred being in the city led him to incur expenses higher than ever, and amongst that was pension contribution of N$1000 monthly, donation to charity of 10% of his salary, insurance premiums of N$2 000 and expenses on second house of N$12 000. REQUIRED Calculate the taxable income and tax liability for Mr Alfred Johannes. Taxation

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Annual income tax calculation for Mr Alfred Johannes will be as follows 1 Salary for fi... View the full answer