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Question 6 (13 marks) As the result of an audit, IMF Productions Ltd received an amended assessment on 1 June 2022 for the year ended 30 June 2021. It amended an earlier assessment, which was dated 11 December 2021, by disallowing $110,000 claim for work related travel expenses. The travel expenses were incurred in establishing an office in China. IMF Productions Ltd already has a number of offshore offices in the Asia-pacific region. Required: (a) Advise IMF Productions Ltd about objecting to the amended assessment citing relevant legislation to support your answer. (6 marks) (b) Assuming that, on the 1 October 2022, IMF Productions Ltd received notice that their objection had been disallowed, what further options are available to them? What are some of the factors that should be considered? Cite relevant legislation to support your answer.
Air conditioners are a luxury good. a) What does this imply about income elasticity? b) Which two countries would you guess have the highest per capita demand for air conditioners at present? c) If people continue to get richer and global warming continues to increase, what is likely to happen to the quantity of air conditioners demanded? d) And what will this do to global warming? And hence to the demand for air conditioners
After a promotion, Gwen's annual salary was increased by 7.8% to R450000. Determine his monthly salary and the monthly increas he will be getting
What are the two subfield of economics?
Compared to Tunisia, Malaysia's GDP per capita is USD9945 for 2017. What is the average growth rate that Tunisia should maintain since 2009, if the country wants to achieve GDP per capita in line with Malaysia?If Tunisia continues to enjoy growth at a rate of 5% per annum since 2009, what will be its per capita income in 2018?
Use a truth table to represent the following statement.
Roxanne, Sam and Thomas will attend the play if and only if Vince doesn't attend, but,
if neither Roxanne nor Sam attend, then Vince attend only if Thomas attends.
If the demand function is : 𝑄𝑑 = 1300 − 10𝑃 − 𝑃2 Where P = 20, find the price elasticity of demand (show all working used)
Air conditioners are a luxury good. a) What does this imply about income elasticity? b) Which two countries would you guess have the highest per capita demand for air conditioners at present? c) If people continue to get richer and global warming continues to increase, what is likely to happen to the quantity of air conditioners demanded? d) And what will this do to global warming? And hence to the demand for air conditioners
Consider the following demand function: QD = 25/P2. Show that the point elasticity of demand for that function is always equal to −2.
