tax 2b

INFORMATION: The following information relates to expenditure and allowances for assets for Moses (Pty) Ltd, a manufacturer of candle holders, for the current year of assessment. Moses (Pty) Ltd is not a small business as defined. - The company purchased a new machine A on 1 August for a cash amount of R1 092500 (including VAT). The machine was brought into use on the same date in a manufacturing process. (6 marks) - The company purchased a second-hand machine C for a cash amount of R318000 (VAT inclusive). The machine was brought into use on the same date in a process of manufacture. (6 marks) - The compary purchased a delivery cycle for R15 450 (including VAT of R2 050) on the 1 August 2018 and brought it into use on the same date. In terms of Interpretation Note No. 47, the write-off period for delivery vehicles is four years. (4 marks) - Expenses incurred in acquiring a design were R 16 500. The design was registered on 31 July 2018. (2 marks) - Expenses incurred in acquiring a patent R 4780 . The patent was registered on 31 October 2018 (2 marks) Required: Calculate the total allowances that can be claimed for the current year of assessment (ended on 28/29 February 2019)