ii$)$ R$27000$ legal costs relating to the drawing up of an agreement to purchase a piece of land;

iii$)$ R$52000$ relating to a dispute with a client of Ngwenya $($Pty$)$ Ltd who sued the company for supplying incorrect goods. Ngwenya $($Pty$)$ Ltd$\text{'}$s lawyers were successful in defending the company on this matter.

Determine the amount that is

of assessment and the date of the assessment was $14$ December $2021.$

The company's $2022$ tax assessment was issued on $3$ March $2023$ and reflected a taxable income of R$896$

$123.$ The actual calculated taxable income for the $2023$ year of assessment was R$976754.$ Bhekisizwe $($Pty$)$ Ltd is not a small business corporation as defined and the company has a September year

Ngwenya $($Pty$)$ Ltd made a restraint of trade payment of R$1400000$ to a retiring director, Mr Msomi, on $1$

September $2023.$ Mr Msomi was restrained from competing with the company for four years from the date of the payment. This payment will be included in Mr Msomi's gross income for his $2024$ year of assessment. Calculate how much will be

January $2024.$ Mr Msomi was restrained from competing with the company for two years from the date of the payment. This payment will be included in Mr Msomi's gross income for his $2024$ year of assessment. Calculate how much will be deductible by Ngwenya $($Pty$)$ Ltd for the year of assessment ending $29$ February $2024.$

Why is it necessary to identify small business corporations correctly for tax purposes?

a$.$ Small business corporations are exempt from VAT.

b$.$ Small business corporations pay tax at a lower rate than other companies.

$($Pty$)$ Ltd for R$6600000.$ MKM $($Pty$)$

Ltd claimed an allowance on the building when it originally purchased the building new for a cost price of R$4100000$ on $1$ March $2021.$ Ubuntu $($Pty$)$ Ltd will primarily use the building in an approved manufacturing process. Calculate the capital allowance available to Ubuntu $($Pty$)$ Ltd on the building for the $2024$ year of assessment ending $28/29$