Question 4 (20 Marks) Teddy Buthelezi, a budding young entrepreneur from Gqeberha started a new business on 1 March 2022. His turnover (cash receipts) for the year of assessment ended 28 February 2023 amounted to R720 000 . His business qualifies as a microbusiness and is registered as such. As at 28 February 2023, a debtor still owes him an amount of R18 000. On 1 April 2022, he converted his garage into a business premises at a cost of R55 000. The garage made up 15% of the total area of his primary residence. The primary residence was purchased in 2018 for R850 000. After six months in business, the business was flourishing and Teddy needed a bigger place and thus decided to sell the property on 30 September 2022 for R1 300000 . The portion of the proceeds (from the sale of the house) that relate to the converted garage amounted to R220000. Teddy also replaced an old oven with a new state-of-the art industrial oven machine. He sold the old oven for R9 000 and made a capital gain of R2 500 on the sale. Required: 4.1 Determine Teddy's turnover tax for the 2023 year of assessment. (14 marks) show all workings/calculations 4.2 Should Teddy decide to deregister voluntarily as a micro business, explain the (3 marks) process in terms of paragraphs 9 and 10 of the Sixth Schedule 4.3 Should Teddy's business exceed a turnover of R1 million by the end of December 2022, briefly (3 marks) discuss the process of compulsory deregistration. Appendix Turnover tax table: 2023 (1 March 2022 - 28 February 2023)