Ngwenya (Pty) Ltd had the following bad debts as at 29 February 2024:Bad debts - relating to trade debtors - Namibian located customers = R67 000Bad debts - relating to trade debtors - South African located customers = R153 000Bad debts - relating to loans made to former employees = R16 800 (including interest charged on the loans of R980)Calculate the amount that Ngwenya (Pty) Ltd can deduct for tax purposes with regards to the bad debts it has incurred during the year of assessment ending on 29 February 2024.
Question
Ngwenya (Pty) Ltd had the following bad debts as at 29 February 2024:Bad debts - relating to trade debtors - Namibian located customers = R67 000Bad debts - relating to trade debtors - South African located customers = R153 000Bad debts - relating to loans made to former employees = R16 800 (including interest charged on the loans of R980)Calculate the amount that Ngwenya (Pty) Ltd can deduct for tax purposes with regards to the bad debts it has incurred during the year of assessment ending on 29 February 2024.
Solution
Para calcular el monto que Ngwenya (Pty) Ltd puede deducir para fines fiscales con respecto a las deudas incobrables incurridas durante el año de evaluación que termina el 29 de febrero de 2024, debemos considerar las siguientes categorías de deudas incobrables:
- Deudas incobrables relacionadas con deudores comerciales - clientes ubicados en Namibia: R67 000
- Deudas incobrables relacionadas con deudores comerciales - clientes ubicados en Sudáfrica: R153 000
- Deudas incobrables relacionadas con préstamos otorgados a ex empleados: R16 800 (incluyendo intereses cobrados sobre los préstamos de R980)
Para fines fiscales, generalmente solo se pueden deducir las deudas incobrables relacionadas con deudores comerciales. Las deudas incobrables relacionadas con préstamos a ex empleados no suelen ser deducibles, especialmente si incluyen intereses.
Por lo tanto, el cálculo sería el siguiente:
- Deudas incobrables de clientes en Namibia: R67 000
- Deudas incobrables de clientes en Sudáfrica: R153 000
- Deudas incobrables de préstamos a ex empleados: R16 800 (no deducible)
Total deducible para fines fiscales: R67 000 + R153 000 = R220 000
Ngwenya (Pty) Ltd puede deducir un total de R220 000 por deudas incobrables para fines fiscales en el año de evaluación que termina el 29 de febrero de 2024.
Similar Questions
Ngwenya (Pty) Ltd had the following expenses during the 2024 year of assessment:Bad debts from customers = R74 000Bad debts from a loan to a supplier = R98 000Calculate the deduction available for tax purposes to Ngwenya (Pty) Ltd for the 2024 year of assessment ending 29 February 2024.
Ngwenya (Pty) Ltd incurred the following legal expense during the 2024 year of assessment ended 29 February 2024: i) R12 000 legal costs for debt collection;ii) R30 000 legal costs relating to the drawing up of an agreement to purchase a piece of land;iii) R55 000 relating to a dispute with a client of Ngwenya (Pty) Ltd who sued the company for supplying incorrect goods. Ngwenya (Pty) Ltd's lawyers were successful in defending the company on this matter.Determine the amount that is deductible by Ngwenya (Pty) Ltd relating to legal fees.
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Ngwenya (Pty) Ltd has a 29 February 2024 year end. The company made the following payments during the 2024 year of assessment:1) R50 000 annual annuity for life to Mrs Zikalala, a dependant of a former employee, Mr Zikalala, who retired due to old age in 2021.2) R40 000 annual annuity for life to a former employee, Mrs Swarts who retired after being diagnosed with a terminal illness.Calculate the amount that is deductible for the 2024 year of assessment
Ngwenya (Pty) Ltd contributes to a provident fund for the benefit of its employees. Contributions amounting to R22 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?
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