Vat = 15%

Au and the YOU ARE REQUIRED TO calculate Jam (Ply) Ltd's normal tax liability for its year of assessment ending 31 March 2016. - Question 7 Sam Thaver, a VAT vendor on the invoice basis, did the following in March 2013: (10) 1 2013 He started to use his personal motor vehicle 100% for business purposes. His business entails only taxable supplies, and he is not a car dealer. The motor vehicle cost him R66 000 (VAT inclusive) and on the date when he started to use it for business purposes, it had a market value of R37 500 He started to use his private computer 100% for business purposes. The computer cost him R11 355 (VAT inclusive) and had a market value of R7 300 when he started to use it for business purposes. He started to use his private printer 97% for business purposes. The printer was bought from a non-vendor for R2 500 and had a market value of R1 500 on the date on which he started to use it for business purposes. The full purchase price had been paid. He converted 80% of his private residence into offices. He bought his residence for R550 000. He bought the residence on credit from the seller and has paid only R300 000 up to date. At the date when he started to use 80% of the residence as offices, it had a market value of R750 000. Calculate the VAT consequences of the above. Total 100 Au and the YOU ARE REQUIRED TO calculate Jam (Ply) Ltd's normal tax liability for its year of assessment ending 31 March 2016. - Question 7 Sam Thaver, a VAT vendor on the invoice basis, did the following in March 2013: (10) 1 2013 He started to use his personal motor vehicle 100% for business purposes. His business entails only taxable supplies, and he is not a car dealer. The motor vehicle cost him R66 000 (VAT inclusive) and on the date when he started to use it for business purposes, it had a market value of R37 500 He started to use his private computer 100% for business purposes. The computer cost him R11 355 (VAT inclusive) and had a market value of R7 300 when he started to use it for business purposes. He started to use his private printer 97% for business purposes. The printer was bought from a non-vendor for R2 500 and had a market value of R1 500 on the date on which he started to use it for business purposes. The full purchase price had been paid. He converted 80% of his private residence into offices. He bought his residence for R550 000. He bought the residence on credit from the seller and has paid only R300 000 up to date. At the date when he started to use 80% of the residence as offices, it had a market value of R750 000. Calculate the VAT consequences of the above. Total 100