Out the Box $($Pty$)$ Ltd $($Out the Box$)$ specialises in eco$-$friendly packaging solutions and is not a small business corporation. The company's financial year ends on $31$ December $2023.$ The financial director of Out the Box $($Pty$)$ Ltd has computed that the company's taxable income, before considering the items mentioned below, amounted to R$800000.$ This figure has been duly verified for accuracy.

$1)$ On $1$ February $2023,$ Out the Box entered into a lease contract to house its offices in the bustling city. The lease was for a period of five years, with the option to extend the contract for another five years. In terms of the contract, Out the Box had to effect improvements on the premises to the value of R$300000.$ The building improvements, which commenced on$1$ April $2023,$ were completed and brought into use on $31$ July $2023.$ ThE total cost of theimprovements was R$360000.$

$2)$ A second$-$hand manufacturing machine was purchased and brought into use on $1$ March $2023$ for R$182000.$ The machine was moved to the new factory building in Richards Bay $($see note $4$ below$)$ on $15$ October $2023$ at a cost of R$22900.$

$3)$ Out the Box purchased a new manufacturing machine on $3$ January $2019$ at a cost of R$156000.$

$4)$ On $1$ September $2023,$ the company purchased a new factory building in Richards Bay at a cost of R$2200000.$ The purchase price included R$500000$ in respect of the land on which the factory was located. The factory was brought into use on the date of acquisition.

$5)$ The company purchased one mainframe computer on $1$ October $2023$ for R$125000.$ The company also incurred a R$15000$ fee for installing the computer. A second$-$hand laptop was purchased on the same date to be used in the reception area, at a cost of R$6800.$

$6)$ On $1$ November $2023,$ Out the Box purchased a new delivery vehicle for R$195000.$ The vehicle was brought into use on the same day. Insurance costs for the $2$ months ending $31$ December $2023$ amounted to R$6400.$

$7)$ Out the Box purchased office equipment for R$75000$ on $01$ January $2021$ and brought it into use at that date. On $31$ December $2023,$ the equipment was sold for R$15000.$ Wear$-$and$-$tear allowances of R$18750$ per annum were claimed from $2021$ to $2023.$ The wear and tear on the equipment in the current year was taken into account in determining the taxable income above.

$8)$ On $31$ December $2023,$ Out the Box sold furniture for R$30000$ that had originally cost R$68000$ when purchased in $2020.$ The furniture had a carrying amount of R$16200$ and a tax value of R$12750$ on the date of its sale. SARS allows a four$-$year write$-$off period in respect of all assets, where applicable.

Required:

Q$\mathrm{.}5\mathrm{.}1$ Determine the taxable income of Out the Box $($Pty$)$ Ltd for its year of assessment ended $31$ December $2023,$ after taking into account the above information.

$$ Round your final answers to the nearest Rand.

$$ Provide brief reasons for any nil effects.

$$ Ignore VAT and CGT$.$