Page 55 - F1 Integrated Workbook STUDENT 2018
P. 55

Corporrate Incoome Tax and Cappital Tax Computations








                   Exxampple 9




                   Using the infformation from exammple 8 calculate thee capital taax to be ppaid
                   on the dispossal?

                   Solution

                                                                       $
                   Salee proceedss                                  50,000
                   Lesss: Cost                                     (20,000)
                                                                    ––––––
                                                                    30,000
                   Lesss: Indexation allowance
                   20,0000 × 30%% (examplee 8)                      (6,000)
                                                                    ––––––
                   Chaargeable gain                                 24,000
                                                                    ––––––

                   Cappital tax = $$24,000 × 30% = $7,,200










































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