Examples of Net amount recovered in a sentence
The status of the account on 31 March 2006 is as follows: Total debt outstanding R510 863 765 Number of debtors 3 054 Number of accounts 4 518 Net amount recovered (2005/06) R69 268 115 Credit balance in the Agricultural Debt Account R1 026 499 552 An amount of R150,0 million was, in terms of section 5 of the mentioned Act, transferred from the Agri- cultural Debt Account to the National Revenue Fund, appropriated on the Department’s budget and utilised for the funding of Mafisa.
Example 2 – Net amount recovered from the employee – taxable benefit arisesFacts:G, an employee of XYZ, receives a retention bonus of R50 000 in year 1.
Net amount recovered" means the amount of any award, settlement, compromise, or recovery by a claimant against a third party, minus the attorney's fees, costs, or other expenses incurred by the claimant in securing the award, settlement, compromise, or recovery.
The status of the account on 31 March 2006 is as follows: Total debt outstanding R510 863 765 Number of debtors 3 054 Number of accounts 4 518 Net amount recovered (2005/06) R69 268 115 Credit balance in the Agricultural Debt Account R1 026 499 552 An amount of R150,0 million was, in terms of section 5 of the mentioned Act, transferred from the Agri- cultural Debt Account to the National Revenue Fund, appropriated on the Department’s budget and utilised for the funding of Mafisa.
The recovery of outstanding debt is currently the Department’s only mandate in this regard and the status of the Account at 31 March 2003 is as follows: Total debt outstanding - R716 957 683 Number of debtors - 5 317 Number of accounts - 8 282 Net amount recovered (2002/03) - R101 227 312 Credit balance in the ACA - R1 001 215 058 During the 2002/03 financial year, at the request of the National Treasury, the Department changed from the Financial Management to the Basic Accounting System.