Page 22 - F6 - Capital Allowances - Leases
P. 22

Solution









       Total amount paid as rentals for hire of equipment and


       allowed as deductions ......... R45 000







       Amount to be included in Mr Holmes’ income in terms


       of s 8(5)(a) – amount of rentals previously deducted


       applied in reduction of purchase price of asset ..........



       R90 000
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