Summary
Summary Assessed losses - S24, S20 & S20A
- Course
- Taxation
- Institution
- University Of KwaZulu-Natal (UKZN)
Assessed losses & other allowances Summaries for principles of S24, S20 & S20A
[Show more]
Seller
Follow
Content preview
Assessed lossesother allowances
ICA's
suspensive sale a
purchaser gets ownership
end
s 24J interest is filly IIE.ieeo
ii
No cap allowances
deductible Interest is not fully
Seller 524 deems full deductible
amount has accrued to
seller in the year they
include full sales proceeds
in
go
at least 25 will be received
after 12months s24 allowance
will be allowed to reduce tax
burden
whatever allowance you deduct
in the current year needs to be
added back the following year
Calculation of 524 allowance
sales cos sales
outstanding
debtors balance x gross profit y
calculated on each individual
Sll i g suspensive sale
EXCLUDING rat
finance charges
you'lldeduct thisvalue inthecurrentyear leasesunderwhichthelesseehastheoptionto
purchase the leased item
youwillthen add it back thefollowing suspensivecondition of
year spgfssigngqtgen.gg credit
nonexistence
thisallowance
assessedlossmat
beusedtocreatean
or tocreatean assessedloss salessalesubjecttospecific resolutive condition
VAT a suspensive
on
Remove VAT beginning no apportioning
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller eireanbowker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R133,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60434 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now