Read the scenarios below for the year ending 28 February 2023 and answer the following...
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Read the scenarios below for the year ending 28 February 2023 and answer the following question. A. The followina is the income statement of Axe Ltd for the financial vear ending B. Paul is a 50-year-old mechanical engineer employed for the full year. Paul had the following income and expenses during the year: C. Maria is a 19-year-old trainee bookkeeper employed from 1 June 2022 to 31 December 2022. Maria had the followina income and exoenses durina the vear: Employees' tax paid to SARS during the year R2 000 Required: Calculate the net nomal tax payable/refundable for each taxpayer above for the year ending 28 February 2023. ANNEXURE: Tax tables Rates of tax applicable to individuals and special trusts for the 2022/2023 tax year of assessment: Interest Exemptions Interest from a South African source earned by a natural person is exempt, per annum, up to an amount of: Income Tax Rebates for Individuals
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Read the scenarios below for the year ending 28 February 2023 and answer the following question. A. The followina is the income statement of Axe Ltd for the financial vear ending B. Paul is a 50-year-old mechanical engineer employed for the full year. Paul had the following income and expenses during the year: C. Maria is a 19-year-old trainee bookkeeper employed from 1 June 2022 to 31 December 2022. Maria had the followina income and exoenses durina the vear: Employees' tax paid to SARS during the year R2 000 Required: Calculate the net nomal tax payable/refundable for each taxpayer above for the year ending 28 February 2023. ANNEXURE: Tax tables Rates of tax applicable to individuals and special trusts for the 2022/2023 tax year of assessment: Interest Exemptions Interest from a South African source earned by a natural person is exempt, per annum, up to an amount of: Income Tax Rebates for Individuals 