Blitz $($Pty$)$ Ltd is a South African resident. It is a small business corporation that manufactures braai $($BBQ$)$ accessories and products. The company$$s financ ial y ear ends on $28/29$ February. Blitz $($Pty$)$ Ltd is a registered vat vendor and the company does not apply IFRS $9$ for financial reportin g purpos es $.$

The f ollowing inf ormation is av ailable f or the y ear ended $29$ February $2024($all amounts exc lude VAT unless otherwis e stated$)$:

Income Notes R

Sales $6220000$

Expenses and costs

Salaries and wages $1900000$

Bad debts $75000$

Doubtful debts $2?$

Legal expenses $3205000$

Purchase of raw material $2500000$

Inventory $4?$

Electricity $542000$

Machinery costs $6$ see note $6$

Computer costs $766000$

Commercial building $84000000$

Restraint of trade $9120000$

Patent acquired $1060000$

Notes:

$1.$ The s alaries paid during the current year of assessment amounted to R$820000$ and the company als o contributed R$80$

$000$ towards the provident fund on behalf of the company$$s employ ees.

$2.$ The list of doubtful debts as at $29$ February $2024$ amounted to R$150000$ and $70\%$ of the total amount hav e been in arrears for more than $120$ days $.$ The balanc e of the debtors hav e not been in arrears for more than $60$ days $.$ The doubtful$-$debt allowanc e by the Commissio ner for the $2023$ year of assessment, amounted to R$51000.$

$3.$ Legal expenses were incurred as follows:

$-$ Drafting of lease contracts for the company amounting to R$70000.$

$-$ The balance of the expenses relate to collection of outstanding trade debtors.

$4.$ The c ost pric e of the opening s toc k was R$610000$ and the market v alue was R$650000$ as on $1$ Marc h $2023.$ The c ost price of the closing stock was R$590000$ and the market value was R$615000$ on $29$ February $2024.$

$5.$ The company paid the entire amount of electricity for the period $1$ February $2024$ to $31$ August $2024.$

$6.$ On $1$ February $2023,$ Blitz $($Pty $)$ Ltd ac quired a new manuf acturing mac hine from Brazil whic h was brought into us e on $2$ May $2023.$ The c os t of the mac hine was US$$38000.$ The c ompany s ettled the purc has e pric e in full on $1$ J uly $2023.$ No other costs were incurred on the machine and no forward exchange contract was entered into.

The spot rates are as follows:

$1$ February $2023$ $$1=$ R$18\mathrm{.}20$

$28$ February $2023$ $$1=$ R$18\mathrm{.}50$

$2$ May $2023$ $$1=$ R$18\mathrm{.}70$

$1$ July $2023$ $$1=$ R$18\mathrm{.}80$

$7.$ Due to the expansion of the business, the company purchased three laptops during November $2023$ for immediate us e by the f inanc e department. The tax pay er elec ts the $50$:$30$:$20$ write$-$off that pertains to other ass ets in terms of s ec tion $12$E$.$

$8.$ The company constructed a mini commercial building on $10$ June $2023.$ The building was completed and immediately brought into use on $1$ January $2024.$

$9.$ The full payment was made to the former operations manager on$2$ January $2024$ for agreeing not to start a business in South Africa within a period of four years.

$10.$ Blitz $($Pty$)$ Ltd incurred an expense of R$60000$ in acquiring a design on its trading merchandise.

Required:

Calculate in detail Blitz $($Pty$)$ Ltd$.$s tax liability for the year ended $29$ February $2024.$