During the tax year 2019/20, Ahmed has trading profit of £20,000 and sold a commercial investment property giving rise to a capital gain of £13,000. Which one of the following is total taxable income of Ahmed, for the tax year 2019/20 as per UK tax laws? a. £8,500 b. None of the options c. £7,500 d. £1,000

Abe commenced trading on 1 September 2020. The tax adjusted trading profit for his first two accounting periods is as follows: Accounting period Tax adjusted trading profit Ten months ended 30 June 2021 £ 15,720 26,340 Year ended 30 June 2022 On what amount of trading profit will Abe be assessed for the tax year 2021-22? £26,340 £20,110 £24,471 £15,720

Ricki Glass received the following income in 2021: Eligible dividend for $2,000 Non-eligible dividend for $3,500 Foreign dividend for $1,500 ($225 was withheld by the foreign country, netting Ricki $1,275.) Calculate the dividend income to be included on Ricki's 2021 T1.

Marty has the following net § 1231 results for each of the years shown: Tax Year 2017 2018 2019 2020 Net § 1231 Loss $10,000 3,000 12,000 Net § 1231 Gain What would be the nature of the net gains in 2020? $29,000

Question 6: Duling the year ended 30 Jun 2020, Ria, a resident of Australia, receives a fully franked dividend of $55,000 from a Company that pays tax at the rate of 30 cents in the dollar and is nor a BRE. Required: Calculate the amount that must be added to her assessable income in relation to the fully franked dividend. 30634

Question 1: (4 parts @ 0.5 marks = 2 marks) Alan earns net income before taxes of $10,000 from his small business corporation (SBC) in the year ending December 31, 2017. He is considering reinvesting the business earnings (net of corporate income taxes) into zero-dividend common shares that are expected to appreciate in value by 8% per annum commencing January 1, 2018. Alan's personal marginal tax rate is 40% (federal provincial combined) on regular income and 27% on non-eligible dividends (net of dividend tax credit ). Assume that the investment income earned by the SBC will be considered merely ancillary to its active business and therefore the 16% SBC rate will continue to apply to all income earned within the corporation Required : (A) (B) . If Alan earns the $10,000 directly as self-employment or professional income in 2017 and invests it, what will be his (after-tax) consumable wealth on 31, 2018? December pay If Alan earns the $10,000 through his SBC in 2017, has the corporation…

An individual has an RSP that they are drawing money out of during 2020. TheRRSP has earned dividends of $10,000. The individual withdraws $32,000 from theRRSP. To obtain that much cash, the RSP sells investments worth $32,000 thathave a cost basis of $20,000. What is the individual's 2020 taxable income as aresult of the RRSP? A) 42000 B) 16000 C)19800 D)32000

Problem 14-70 (b) (LO. 8) Domingo has the following net § 1231 results for each of the years shown: Tax Net § 1231 Net § 1231 Year Loss Gain 2015 $13,000 2016 $34,000 2017 $59,000 2018 $45,000 2019 $10,000 2020 $42,000 What would be the nature of the net gains in 2018, 2019, and 2020? If an amount is zero, enter "0". Amount Amount Total Treated as Treated as Net § 1231 Ordinary Long-Term Gain Income Capital Gain 2018 $45,000 $ 2019 $10,000 $ 2020 $42,000 $ %24 %24

39-Salman sold the antique table which had cost £3,500 in January 2013 and sold for £5,500 in December 2019. Which one of the following is net chargeable gains or losses for the tax year 2019/20, as per UK tax laws? O a. £2,000 O b. £6,000 O C. £0 O d. £5,500

2022 tax rules