Identify the correct statement regarding the calculation of taxable income of a natural person O A. Deductions relating to section 11(a) of the Income Tax Act 58 of 1962 are accounted for before deductions relating to retirement contributions O B. Donations that are not paid to a public benefit organisation are accounted for under section 11(a) of the Income Tax Act 58 of 1962 deductions when calculating taxable income. O C. Taxable capital gains are not taken into account when calculating taxable income as they relate to receipts of capital nature. O D. Retirement fund deductions are accounted for after all deductions have been taken into account when calculating taxable income.

SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter20: Corporations And Parterships
Section: Chapter Questions
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Identify the correct statement regarding the calculation of taxable income of a natural person
O A. Deductions relating to section 11(a) of the Income Tax Act 58 of 1962 are accounted for before deductions
relating to retirement contributions
O B. Donations that are not paid to a public benefit organisation are accounted for under section 11(a) of the
Income Tax Act 58 of 1962 deductions when calculating taxable income.
O C. Taxable capital gains are not taken into account when calculating taxable income as they relate to receipts
of capital nature.
O D. Retirement fund deductions are accounted for after all deductions have been taken into account when
calculating taxable income.
Previous page
DAN P
COM0027
C e
hp
Transcribed Image Text:Identify the correct statement regarding the calculation of taxable income of a natural person O A. Deductions relating to section 11(a) of the Income Tax Act 58 of 1962 are accounted for before deductions relating to retirement contributions O B. Donations that are not paid to a public benefit organisation are accounted for under section 11(a) of the Income Tax Act 58 of 1962 deductions when calculating taxable income. O C. Taxable capital gains are not taken into account when calculating taxable income as they relate to receipts of capital nature. O D. Retirement fund deductions are accounted for after all deductions have been taken into account when calculating taxable income. Previous page DAN P COM0027 C e hp
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