Accounting

A taxpayer resides in special Zone B for the duration of the year She has three dependant all of whom are full-time students Her adjusted taxable income is $82 000 None of the dependants have earned any income during the year Her zone tax offset/rebate for the current tax year ended 30 June will be:

Sales: R10 800 000,

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cost of sales: R4 320 000,

operating expenses: R1 800 000

Income tax calculated at 28%

Based on the above information:

Interest has been calculated at 8% per year on the amount invested Assume that there was no change in investments during the year, determine the value of the investment

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