Tax liability of minors

AT – May 2020 – L3 – Q5c – Tax planning

Explain how the income of Lydia Waakye, a 16-year-old sole proprietress with a supermarket shop, will be subject to tax

Question

Lydia Waakye aged 16 years old is a sole proprietress with a big super market shop and makes income of an amount of GH¢40,000 per annum over the last 3 years.

Required: How will the income be subject to tax?

Answer

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Tags: Minor's income, Sole Proprietorship, Tax liability of minors
Level: Level 3

Topic: Tax planning
Series: MAY 2020

Question Tag: Tax liability of minors

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AT – May 2020 – L3 – Q5c – Tax planning

Explain how the income of Lydia Waakye, a 16-year-old sole proprietress with a supermarket shop, will be subject to tax

AT – May 2020 – L3 – Q5c – Tax planning

Explain how the income of Lydia Waakye, a 16-year-old sole proprietress with a supermarket shop, will be subject to tax

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Question Tag: Tax liability of minors

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AT – May 2020 – L3 – Q5c – Tax planning

Explain how the income of Lydia Waakye, a 16-year-old sole proprietress with a supermarket shop, will be subject to tax

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AT – May 2020 – L3 – Q5c – Tax planning

Explain how the income of Lydia Waakye, a 16-year-old sole proprietress with a supermarket shop, will be subject to tax

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