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BN Ltd is a packaging business. All amounts are Vat inclusive, where applicable. The following information relates to the 2 - month tax period of
BN Ltd is a packaging business. All amounts are Vat inclusive, where applicable. The following information relates to the month tax period of August and September INCOME Sales Sales: Australia Rent received: Residential supply Interest received Fee from consulting service EXPENSES Wages Petrol Bad debts Telephone Water and Electricity Importation of good from Zimbabwe Customs Duty Purchase of factory building from nonvendor Purchase of raw material Purchase of water bottles Cost of new motor car for general use in business Calculate the VAT payable or refundable for the period of August and September Note: IF VAT IS NOT APPLICABLE, PLEASE PROVIDE REASONS Round off to two decimal places. QUESTION MARKS Discuss the following: To whom is the deduction of annuities allowed and what are the conditions that need to be met. Calculate a SA deduction for the year of assessment if B Ltd donated R Taxable Income is R
BN Ltd is a packaging business. All amounts are Vat inclusive, where applicable. The following information relates to the month tax period of August and September
INCOME
Sales
Sales: Australia
Rent received: Residential supply
Interest received
Fee from consulting service
EXPENSES
Wages
Petrol
Bad debts
Telephone
Water and Electricity
Importation of good from Zimbabwe
Customs Duty
Purchase of factory building from nonvendor
Purchase of raw material
Purchase of water bottles
Cost of new motor car for general use in business
Calculate the VAT payable or refundable for the period of August and September
Note: IF VAT IS NOT APPLICABLE, PLEASE PROVIDE REASONS
Round off to two decimal places.
QUESTION MARKS
Discuss the following: To whom is the deduction of annuities allowed and what are the conditions that need to be met.
Calculate a SA deduction for the year of assessment if B Ltd donated R Taxable Income is R
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