Business, 20.06.2021 15:00 asco0317p34v1s
"The personal income tax brackets will be increased by 5 percent, which is more
than inflation. This will provide R2.2 billion in tax relief. Most of that relief will reduce
tax burden on the lower and middle-income households. This means that if you are
eaming above the new tax-free threshold of R87 300. you will have an extra R756 in
your pocket after 1 March 2021”, said Minister Tito Mboweni: 2021 budget speech
in light of the above statement, answer the following research questions in line with
the rubric provided.
QUESTION 1: How much tax revenue was collected by the South African
Revenue Services (SARS) in the 2019/2020 financial year?
Briefly explain the following concepts and give example of each
Wealth tax
Corporate tax
Employees tax
(10)
Answers: 3
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Business, 22.06.2019 11:40
The following pertains to smoke, inc.’s investment in debt securities: on december 31, year 3, smoke reclassified a security acquired during the year for $70,000. it had a $50,000 fair value when it was reclassified from trading to available-for-sale. an available-for-sale security costing $75,000, written down to $30,000 in year 2 because of an other-than-temporary impairment of fair value, had a $60,000 fair value on december 31, year 3. what is the net effect of the above items on smoke’s net income for the year ended december 31, year 3?
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Business, 22.06.2019 16:00
Advanced enterprises reports year-end information from 2018 as follows: sales (160,250 units) $968,000 cost of goods sold 641,000 gross margin 327,000 operating expenses 263,000 operating income $64,000 advanced is developing the 2019 budget. in 2019 the company would like to increase selling prices by 14.5%, and as a result expects a decrease in sales volume of 9%. all other operating expenses are expected to remain constant. assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. should advanced increase the selling price in 2019?
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"The personal income tax brackets will be increased by 5 percent, which is more
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