C
curiousactuary
Member
On page 19 of chapter 7 (life insurance company taxation) of the SA2 course notes for the 2019 examinations there is a question asking to calculate the tax payable by a mutual where
I (BLAGAB) = 300
E (BLAGAB) = 200
The answer is given as:
Tax = (300 – 200) × 20% = 20.
1. Is the 20% referring to the corporation tax rate for shareholders.
2. If so, shouldn't the corporation tax rate be 19% now for the 2020/2021 tax year?
3. Also, wasn't it 19%, in the 2019 to 2020 financial year - if so, why do the course notes use 20%?
I (BLAGAB) = 300
E (BLAGAB) = 200
The answer is given as:
Tax = (300 – 200) × 20% = 20.
1. Is the 20% referring to the corporation tax rate for shareholders.
2. If so, shouldn't the corporation tax rate be 19% now for the 2020/2021 tax year?
3. Also, wasn't it 19%, in the 2019 to 2020 financial year - if so, why do the course notes use 20%?