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South Africa Tax to be applied, thank you (20 marks) Braam Qheberha Properties Ltd (a VAT vendor) operates as a property management company. The company
South Africa Tax to be applied, thank you
(20 marks) Braam Qheberha Properties Ltd (a VAT vendor) operates as a property management company. The company manages a block of flats that are situated in Braamfontein, and which are used for both residential and the letting of business office space (mixed use property). During the year of assessment 2021 the following transactions took place in its normal business operations: . An amount of R90 000 was received for the tenants of the residential flats. Rental received on the leased office space amounted to R57 500. Advertising relating to the office space was R5 600 and for the residential flats amounted to R8 000. Salaries and wages for staff was R180 000. Repairs and maintenance expenditure for residential flats was R20 000 and for the business office space was R11 200. Audit fees incurred by the company amounted to R4 000. . Two computers operated in relation to this business activity in Braamfontein were purchased at a cost of R16 000. Office expenses relating to the business office space amounted to R500. . A cleaning contract has been subcontracted by Braam Qheberha to clean the business offices to comply with the health and safety regulations. 2.1. You are required to calculate VAT reconciliation amount resulting from the above transactions. "NB" All amounts are VAT inclusive where applicableStep by Step Solution
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