Development expenditure A farmer has incurred the following expenditure on development and improvements: New dam...
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Development expenditure A farmer has incurred the following expenditure on development and improvements: New dam Dipping tank Fences Eradication of noxious plants Prevention of soil erosion Electricity lines Road construction Year of assessment 1 2 82 000 5 000 5 000 2 000 1 000 1 500 15 000 10 000 6 000 5 000 30 000 108 000 54 500 The taxable income derived from farming operations before the deduction of any of the development expenditure specified above was as follows: Year of assessment 1 75 000 Year of assessment 2 160 000 Calculate the farmer's taxable income from farming in each year of assessment. (5 marks) Development expenditure A farmer has incurred the following expenditure on development and improvements: New dam Dipping tank Fences Eradication of noxious plants Prevention of soil erosion Electricity lines Road construction Year of assessment 1 2 82 000 5 000 5 000 2 000 1 000 1 500 15 000 10 000 6 000 5 000 30 000 108 000 54 500 The taxable income derived from farming operations before the deduction of any of the development expenditure specified above was as follows: Year of assessment 1 75 000 Year of assessment 2 160 000 Calculate the farmer's taxable income from farming in each year of assessment
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