A. William’s basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly salary, payable in March each year. His pension deduction is 8% of the basic salary and income tax is levied at 20% on his taxable income. Calculate the net salary of A. William for March.

A. William’s basic annual salary is R240 000. He receives an annual bonus of 80% of his basic monthly salary, payable in March each year. His pension deduction is 8% of the basic salary and income tax is levied at 20% on his taxable income. Calculate the net salary of A. William for March.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 24CE

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