Which amounts need to be deducted or added

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Reference no: EM133928018

Problem

Ngwenya (Pty) Ltd during the 28 February 2025 year of assessment, had the following two transactions occur which the financial accountant asks you what the tax implications are: Transaction 1: Ngwenya purchased trading stock during the current year of assessment at a cost of R32 000. This stock was given for no consideration to a homeless shelter. The shelter is not a registered PBO. The stock had a market value of R57 000. Transaction 2: Trading stock (specific items) were purchased for an amount of R142 000 during the year of assessment. None of this trading stock were sold and at year-end after the auditors' stock take, these specific items had a market value of R76 000. Get the instant assignment help. Which amounts need to be deducted or added in calculating Ngwenya (Pty) Ltd's taxable income for the 2025 year of assessment with regards to transaction 1 and 2.

Reference no: EM133928018

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