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SAIPA PE Practice Questions - SAIPA Professional Evaluation (PE) Exam

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Under Section 11(a) of the South African Income Tax Act, a Professional Accountant (SA) calculates taxable income for a client. Gross Trading Revenue = R5 000 000. Rent expense = R300 000, Staff wages = R1 200 000, Administrative costs = R200 000, and a traffic fine paid for speeding by a company driver = R5 000. What is the allowable tax deduction?
Correct Answer:
R1 700 000

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