taxation 2b

(10 Marks) X and Y are in a partnership and their main business is the construction of houses. They share equally in the profits and losses of the partnership. The clients of the business are responsible for the purchase of building matenal. On a small scale they also offer clients a service of drafting plans for houses. They decided to register their business as a micro business for turnover tax purposes in the 2021 yoar of assessment. The following amounts relate to various amounts received by the micro business for that year: Notes: - The refund received by the business relates to faulty equipment that was returned to the supplier. - The construction services figure indudes an amount of R15 000 received from a client for a contract conduded in the previous year of assessment. The R15 000 had accrued to the business in the previous year of assessment and was subject to normal tax. - The construction figure also includes an amount of R50000 from the carrying on of business activites in Lesotho. REQUIRED: Calculate the turnover tax payable for the 2021 year of assessment