Question 1 Lucy Dawn is a young and influential female with a high appetite for entrepreneurship. She lost her job due to the Covid-19 Pandemic. Lucy Dawn experienced anxiety and got overwhelmed by fear and uncertainty about her future ...
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The following information relates to Ben Apple, the administrative officer and accountant for the partnership: Taxable income from employment N$200 000 Income from sales of woodwork N$50 000 PAYE deducted from employment income N$27 000 Required: 1. Calculate the correct amount ...
Sarah Davis, 55-year—old Namibian citizen had become an employee of ”First for Women” Insurance on 1St February 2016. Her receipts and accruals for the 2017 year of assessment include: A monthly salary of N$20 000. Annual bonus payable in December, N$20 000 Sales ...
Doormen Archer. 50 years of age, purchased an annuity with an Insurance company for the rest of her life. She paid a cash consideration of N$200 000 for an annuity of N$2000 per month. She received the first annuity payment ...
Belinda is employed at B. Books. She receives an annual salary of N$35 000, B. Books also provide a 4 room house in Windhoek. The employer deducts N$300 from her salary as rent payable. You are required to calculate the taxable ...
Ronald is employed by Nicky Computers. The following information relates to his employment Basic salary of N$80,000 and a housing benefit of N$15 000 per annum You are required to calculate his taxable income for the current year of assessment. ...
TUTORIAL 2 QUESTION 1 (20 MARKS) PATA (Pty) Ltd manufactures and distributes spray tans. PATA have been registered for VAT since 2016. Mr. Mahindi wants to appoint you as the new Accountant; however, he first wants to test your VAT ...
Class Exercise (9, 10 and 11 March 2022) Smoothy (Pty) Ltd is a manufacturer of dairy products in Windhoek, with a processing plant based in Karibib and various selling outlets across Namibia. It is registered as a Value-Added Tax (VAT) ...