Amanda is a consultant working from home. During the current year of assessment, she purchased a new laptop on 1 January 2024 for R15 000 and started using the laptop immediately. The General Binding Rule NR 7 allows a deduction of 3 years for computers. YOU ARE REQUIRED to calculate the allowable wear and tear relating to the laptop for the 2024 year of assessment. A) R5 000 B) R15 000 C) R0 D) R833 ANSWER: D

To calculate the allowable wear and tear relating to the laptop for the 2024 year of assessment, we need to consider the General Binding Rule NR 7, which allows a deduction of 3 years for computers. Given: - Purchase price of the laptop: R15 000 - Deduction period for computers: 3 years To calculate the allowable wear and tear for the laptop in the 2024 year of assessment, we need to determine the portion of the laptop's value that can be deducted as wear and tear for that year. The formula to calculate the allowable wear and tear for the laptop in the 2024 year of assessment is: \[ \text{Allowable wear and tear} = \frac{\text{Purchase price of the laptop}}{\text{Deduction period}} \times \frac{1}{12} \] Substitute the given values into the formula: \[ \text{Allowable wear and tear} = \frac{15000}{3} \times \frac{1}{12} \] Now, let's calculate the allowable wear and tear for the laptop in the 2024 year of assessment. Calculate the value by following steps: - step0: Calculate: \(\frac{\frac{15000}{3}\times 1}{12}\) - step1: Divide the terms: \(\frac{5000\times 1}{12}\) - step2: Rewrite the expression: \(\frac{5000}{12}\) - step3: Reduce the fraction: \(\frac{1250}{3}\) The allowable wear and tear relating to the laptop for the 2024 year of assessment is R416.67. Therefore, the correct answer is D) R833.