Page 109 - P6 Slide Taxation - Lecture Day 7 - Various Topics
P. 109
Solution
• Foreign royalties ................................................................ R10 000
Foreign interest...................................................................R14 000
Other forei g n income .......................................................R30 000
• South African receipts ........................................................R11 4 000
• Taxable income………………………………………………………………R 168 000
• Tax payable
• Normal tax before rebate s (28% of R168 000)..............R47 040
• Les s : Section 6 qua t rebate (see calculation below) (R15 120)
Normal tax payable …………………………………………………….R31 920
• Calculation of the s 6quat rebat e
• Forei g n taxable income (B)/ Taxable income (C) × Normal tax
payable before rebates (A)
• = R54 000 (note 1) /R168 000 × R47 040 = R15 120
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