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Lux Cars ( Pty ) Ltd , a company operating as a retailer of motor vehicles, purchased a motor vehicle in January 2 0 2
Lux Cars Pty Ltd a company operating as a retailer of motor vehicles, purchased a motor vehicle in January for Rnet of VAT and sells it in March for Rnet of VAT The companys year of assessment ends on the last day of February each year.
Required: Show the effect on taxable income of the above transactions for Lux Cars Pty Ltd for the and years of assessment.
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