Ngwenya (Pty) Ltd contributes to a provident fund for the benefit of its employees. Contributions amounting to R 22 000 000 were paid to the fund during the 29 February 2024 year of assessment. How much is deductible for tax purposes by Ngwenya (Pty) Ltd for the 2024 year of assessment? a. R 22 000 000 X 27,5% equals R6 050 000 b. R 22 000 000 x 10% equals R2 200 000 C. R 22 000 000 x 20% equals R4 400 000 d. R22 000 000
Ngwenya (Pty) Ltd contributes to a provident fund for the benefit of its employees. Contributions amounting to R 22 000 000 were paid to the fund during the 29 February 2024 year of assessment. How much is deductible for tax purposes by Ngwenya (Pty) Ltd for the 2024 year of assessment? a. R 22 000 000 X 27,5% equals R6 050 000 b. R 22 000 000 x 10% equals R2 200 000 C. R 22 000 000 x 20% equals R4 400 000 d. R22 000 000
Chapter20: Income Taxation Of Trusts And Estates
Section: Chapter Questions
Problem 16CE
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Question
![Ngwenya (Pty) Ltd contributes to a
provident fund for the benefit of its
employees. Contributions amounting to R
22 000 000 were paid to the fund during the
29 February 2024 year of assessment. How
much is deductible for tax purposes by
Ngwenya (Pty) Ltd for the 2024 year of
assessment?
a.
R 22 000 000 X 27,5% equals R6 050 000
b.
R 22 000 000 x 10% equals R2 200 000
C.
R 22 000 000 x 20% equals R4 400 000
d.
R22 000 000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2ee3d277-8d4e-48ad-83da-b4e742d6322d%2F8a11d6dc-bacb-4986-b4d8-d810f0982e67%2Fpopa7oj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Ngwenya (Pty) Ltd contributes to a
provident fund for the benefit of its
employees. Contributions amounting to R
22 000 000 were paid to the fund during the
29 February 2024 year of assessment. How
much is deductible for tax purposes by
Ngwenya (Pty) Ltd for the 2024 year of
assessment?
a.
R 22 000 000 X 27,5% equals R6 050 000
b.
R 22 000 000 x 10% equals R2 200 000
C.
R 22 000 000 x 20% equals R4 400 000
d.
R22 000 000
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