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A fire occurred at Ngwenya (Pty) Ltd's warehouse on 15 September 2024, trading s...
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A fire occurred at Ngwenya (Pty) Ltd's warehouse on 15 September 2024, trading stock with a value of R580 000 was destroyed. On 20 January 2025, the insurance company awarded the company R310 000 for the loss of this trading stock.
How much can Ngwenya (Pty) Ltd deduct for tax purposes relating to the insured stock for the year of assessment ended 28 February 2025.
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