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LISELENG plc 2019 Chargeable Income Summary

LISELENG plc's chargeable income for the year ended 30th September 2019 includes manufacturing income of 4,102,300.00 M and other income of 3,800,200.00 M, leading to a total tax liability of 1,232,480.25 M. After accounting for withholding tax and ACT, the tax payable is 858,081.25 M. Additionally, dividends amount to 5,407,000.00 M, with a calculated ACT payable of 364,510.00 M.

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7 views3 pages

LISELENG plc 2019 Chargeable Income Summary

LISELENG plc's chargeable income for the year ended 30th September 2019 includes manufacturing income of 4,102,300.00 M and other income of 3,800,200.00 M, leading to a total tax liability of 1,232,480.25 M. After accounting for withholding tax and ACT, the tax payable is 858,081.25 M. Additionally, dividends amount to 5,407,000.00 M, with a calculated ACT payable of 364,510.00 M.

Uploaded by

thabomasasa4
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

LISELENG plc CHARGEABLE INCOME FOR THE YEAR ENDED 30th SEPTEMBER 2019+1:3

BUSINESS INCOME OTHER Income


Manufacturing Income
M M
Manufacturing profits 3,402,300.00
Debtors receipts ( 803,000 -
103,000 ) 700,000.00
Rental sales 3,800,200.00
LSO Dividends
LSO Interest (89,000/0.9)
Gross Profit 4,102,300.00 3,800,200.00
Less Allowable Deductions:
Purchases ( 1,480,000 -
207,450) 1,272,550.00
Legal fees ( 108,200 - 50,000) 58,200.00
Provision for repairs 0
Insurance Premium ( 66,000 x
50%) 33,000.00
Depreciation 64,588.00
Chargeable Income 2,738,550.00 3,735,612.00
10% 25%
Tax Liability 273,855.00 933,903.00
Total Tax Liability 1,232,480.25
Withholding Tax (9,889.00)
ACT (364,510.00)
Tax payable 858,081.25

Dividends 5,407,000.00
Less Qualified Income
Manufacturing after tax (3,692,070.00)
LSO Dividends (621,400.00)
1,093,530.00
x 25/75
ACT payable 364,510.00
EMBER 2019+1:39
PROPERTY INCOME

0
98,889.00
98,889.00

98,889.00
25%
24,722.25

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