Question 1

Mr. Moo 1 January to 30 June 2019

Salary (150000*7)
1,050,000.00
Cash In Lieu of Leave
115,200.12
Income from employment
1,165,200.12

Less Allowable deductions

(2,700.00)
Pension contributions
1,162,500.12
Tax
500,110.05
Aids Levy @ 3%of 500110.05
15,003.30

515,113.35
Income from trade and Investments
Rentals (61000*6)
366,000.00

Tax at 24% of 366 000

87,840.00
Aids levy at 3% of 87840
2,635.20

90,475.20
Mr. Moo
Tax from employment
515,113.35
Tax on trade and investment
90,475.20
Total Tax Payable 605,588.55

Estate Late Mr Moo 1 July to 30 November 2019

Income
Death Benefit
450,000.00
Proceeds from Insurance
38,500.00

488,500.00
Expenses
Death benefit to Mrs Moo
(450,000.00)
Mediacl bills
(191,750.00)
 
(641,750.00)
Assessed Loss
(153,250.00)

Tax Payable
-

Mrs Moo
Income from employment
Salary
250,000.00
Motor Vehicle benefit
76,400.00
Widow's Pension (500000*1/2)
25,000.00
Death Benefit
450,000.00
Exempt
(450,000.00)
 
-
Total Income
351,400.00

Tax
135,115.00
Aids Levy (3% of
135115) 4,053.45

139,168.45
Income from trade and Investments
Rentals (61 000x6)
366,000.00
Less Regularised Maintanance
(15,100.00)
Net Income
350,900.00

Tax
 84,216.00
Aids levy at 3% of 84216
2,526.48

86,742.48
Mrs Moo
Tax from employment
139,168.45
Tax from trade and
investments 86,742.48
Tax due 225,910.93

Question 2
Mr Ray 1 January to 30 May
2019
Income from employment (14000 *5)
70,000.00
Less Allowable deductions
Pension
(2,250.00)
Medical bills (50% * 8500)
(4,250.00)

(6,500.00)
Taxable income
63,500.00

Tax
16,285.00
Aids Levy 3% of 16285
488.55

16,773.55
Income from trade and investments
Rentals (6 x*18000*5)
540,000.00

Tax at 24% of 540 000

129,600.00
Aids levy 3% of 129 000
3,888.00
 133,488.00

Tax Payable from employment

16,773.55
Tax Payable from trade and investments
133,488.00

150,261.55
Less tax paid
(151,211.55)
Assessed Loss
(950.00)

Estate Late Mr Ray 1 June to 30 June 2019

Income Rental one property

18,000.00

Expenses Admin fees

(3,000.00)
Medical bills paid by the executor
(25,750.00)
 
(28,750.00)
Assessed Loss
(10,750.00)

Tax Payable
-

Ms Leen

Salary
150,000.00

Tax
48,985.00
Aids levy 3% of 48985
1,469.55
Tax payable from employment
50,454.55

Income from trade and investments

Rentals (2 houses * 18 * 7 months)
 252,000.00

Tax
60,480.00
Aids levy 3% of 60 480
1,814.40
Tax from trade and investments
62,294.40

Tax payable by Ms Leen

Tax from employment

50,454.55
Tax fron trade and investment
62,294.40
Tax due
112,748.95

Mr. Ben

Income from trade and investments

Rentals (3 houses * 18000 *7)
378,000.00

Tax
90,720.00
Aids levy 3% of 90720
2,721.60
Tax due 93,441.60

Miss Lisa
Income from trade and investments
Rentals (1 x 18000* 6)
108,000.00

Tax
25,920.00
Aids levy at 3% of 25920
777.60
Tax due 26,697.60