Page 51 - P6 Slide Taxation - Lecture Day 6 - Groups, Interest And Practice Questions
P. 51
Solution – BASIc
Initial
• 1 Jan 2014: amount Holder
– Acquires FI for R100 000 less 10% = R90 000
• 31 Dec 2015:
– Receives R130 000
• Calculate the accrual amount – 2014 & 2015
Accrual amount = YTM x adjusted initial amount
= 20,18504% x R90 000
Accrual
= R18 166.54 amount
2013
2015:
= 20,18504% x (R90 000 + 18 166.54) Accrual
amount
= R21 833.46
2014
Total interest received: 18 166.54 + 21 833.46 = R40 000
