Lml4804 notes Study guides, Study notes & Summaries

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LML4804 EXAM PACK 2022. During the 2003 tax year, Mr Johnson leased a dilapidated but wellsituated shopping centre for a period of 10 years. He intended to sub-let it at a profit. Mr Johnson had to renovate the property in order to render it suitable for letting. His expenditure in this regard during the 2003 tax year included an amount of R30 000 for the replacement of broken windows, an amount of R80 000 for the painting of the building, an amount of R250 000 for the replacement of broken...

LML4804 EXAM PACK 2022. During the 2003 tax year, Mr Johnson leased a dilapidated but wellsituated shopping centre for a period of 10 years. He intended to sub-let it at a profit. Mr Johnson had to renovate the property in order to render it suitable for letting. His expenditure in this regard during the 2003 tax year included an amount of R30 000 for the replacement of broken windows, an amount of R80 000 for the painting of the building, an amount of R250 000 for the replacement of broken...

LML4804 TAX LAW SUMMARY NOTES. TAX LAW NOTES: STUDY UNIT 1 INTRODUCTION TO TAXATION State Expenditure and Financing: State expenditure is financed through: 1. Increasing the supply of money in the economy – minting own money; 2. Loans; 3. Generating own income. Generating states “Own Income” can be done by; 1. Sale or lease of property; 2. State enterprises and monopolies; 3. Taxes, duties, levies, and user charges. What is tax? Compulsory contribution, payable in money or in...

LML4804 - Notes (Summary)