taxation 2b

Answer ALL questions in this section. Question One (40 Marks) Stallion Stampers a resident of the Republic, sells and repairs watches from a shop he leases in a local shopping centre. He is a sole proprietor and is registered for value-added tax on the involce basis. An analysis of Stallion Stampers receipts and aceruals and expenditure for his two-month tax period ending 30 September 2021 is set out below. Unless otherwise stated, all amounts are inclusive of value-added lax when applicable. He makes solely taxable supplies. Additional information: 1. The indemnity award of R51 750 was received by Stallion Stampers from his insurer for fwo expensive watches that were stolen from his shop in June 2020. 2. Bad debts of R13 225 written off by Stallion Stampers, comprising the following: - R10 350 owing by one of higfiong-standing custemers, from a credit sale. This customer has since emigrated and he has been unable to trace hor. - R2 875 was lent by him to an employee, who left town without repaying the loant. 3. Depreciation (for the womonth tax period) is charged for the following assets owned Stailion Stampers: 4. Stallion Stampers insurance premiums of 23450 were incurrad for the following assets that belong to him: 5. Stalion Stampers purchases of R160245 are made up as follows: 5. Stallion Stampers purchases of R160 245 are made up as follows: Stallion Stampers purchases second hand watchea from both vendors (for mample. auctioneers) and frem non vendors (for example, privale individuala and decoased estates). He displays and sells second hand watches in his shop 6. Stallion Stampers rentals of R13294 are for the following ifems 7. Two overseas air tickets costing R5800 purchased by Stallion Stampers were given to an employee and his wife as part of the employee's salary package. 7. Two overseas air tickets costing R5 800 purchased by Stallion Stampers wore given to an employee and his wife as part of the employee's salary packege. REQUIRED Determine the value-added lax due to, of from, SARS for Stalin Stampers two-month tax period that ended on 30 September 2021. Answer ALL questions in this section. Question One (40 Marks) Stallion Stampers a resident of the Republic, sells and repairs watches from a shop he leases in a local shopping centre. He is a sole proprietor and is registered for value-added tax on the involce basis. An analysis of Stallion Stampers receipts and aceruals and expenditure for his two-month tax period ending 30 September 2021 is set out below. Unless otherwise stated, all amounts are inclusive of value-added lax when applicable. He makes solely taxable supplies. Additional information: 1. The indemnity award of R51 750 was received by Stallion Stampers from his insurer for fwo expensive watches that were stolen from his shop in June 2020. 2. Bad debts of R13 225 written off by Stallion Stampers, comprising the following: - R10 350 owing by one of higfiong-standing custemers, from a credit sale. This customer has since emigrated and he has been unable to trace hor. - R2 875 was lent by him to an employee, who left town without repaying the loant. 3. Depreciation (for the womonth tax period) is charged for the following assets owned Stailion Stampers: 4. Stallion Stampers insurance premiums of 23450 were incurrad for the following assets that belong to him: 5. Stalion Stampers purchases of R160245 are made up as follows: 5. Stallion Stampers purchases of R160 245 are made up as follows: Stallion Stampers purchases second hand watchea from both vendors (for mample. auctioneers) and frem non vendors (for example, privale individuala and decoased estates). He displays and sells second hand watches in his shop 6. Stallion Stampers rentals of R13294 are for the following ifems 7. Two overseas air tickets costing R5800 purchased by Stallion Stampers were given to an employee and his wife as part of the employee's salary package. 7. Two overseas air tickets costing R5 800 purchased by Stallion Stampers wore given to an employee and his wife as part of the employee's salary packege. REQUIRED Determine the value-added lax due to, of from, SARS for Stalin Stampers two-month tax period that ended on 30 September 2021