Tuppy Plastic $($Pty$)$ Ltd $(\text{'}$Tuppy$\text{'})$ is a company that manufactures Tupperware. The financial year ends on

the last day of March.

The company is a registered Value$-$Added Tax $($VAT$)$ vendor, on the invoice basis, and has a two$-$month

tax period, making $100\%$ taxable supplies.

The following information regarding the December $2023$ to January $2024$ VAT period has been provided

to you by the tax manager, Ms Michelle Prinsloo. All amounts are inclusive of VAT, where applicable,

unless specifically indicated otherwise.

Tuppy sold a machine that was used in its manufacturing process to Mr$.$ Ayob, the majority

shareholder, for R$85000.$ Mr$.$ Ayob is not a registered VAT vendor. The company originally acquired

the manufacturing machine for R$220000$ on $1$ October $2022.$ Assume that on $31$ December $2023,$

the tax value was R$120000,$ and the open$-$market value was assessed at R$95000.($Reference to

the Value$-$Added Tax Act$).$

A previously used factory building costing R$4200000$ was purchased from a non$-$vendor. The

purchase price and transfer duty of R$450000$ was paid on $31$ January $2024$ when transfer took place

into Tuppy's name.

On $1$ December $2023,$ a new motorcar was acquired for R$650000.$ The use of the motorcar was

immediately assigned to Tuppy's marketing manager. The purchase of the motorcar was facilitated

through an instalment credit agreement. This agreement required an upfront deposit of R$30000$ due

on $1$ January $2024,$ followed by $72$ monthly instalments of R$10500.$

On $31$ December $2023,$ equipment with a selling price of R$230000($excluding VAT$)$ was sold to a

customer in Zimbabwe. The equipment was consigned and delivered by Tuppy to the customer's

factory in Zimbabwe. $($Reference to the Value$-$Added Tax Act$).$

On $15$ December $2023$ the company experienced a robbery at its premises resulting in the theft of a

delivery vehicle valued at R$175000.$ The insurance company compensated them with a cash

reimbursement of R$150000($excluding VAT$).$