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2.2 Calculate the tax payable by Greenacres Trading for the year of assessment ending 28 February 2019. (7 marks) INFORMATION Greenacres Trading is a registered

2.2

Calculate the tax payable by Greenacres Trading for the year of assessment ending 28 February 2019. (7 marks)

INFORMATION

Greenacres Trading is a registered micro business. Its receipts and expenses for the year ended 28 February 2019 are as follows:

Turnover of micro business 450 000

Interest received 20 000 Rental from fixed property 48 000

Running costs of micro business 275 000

Repairs to fixed property 40 000

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