2023
TAX2601
Assignment 4
Semester 2 - 2023
DUE: 09 October 2023
Disclaimer
These study notes are meant to aid your academic journey. They are not a substitute for
individual research or professional guidance, and their accuracy, while strived for, is not
guaranteed. You are responsible for verifying the information and maintaining academic
integrity by avoiding plagiarism and adhering to citation rules. The notes may not cover all
variations of a subject, so tailor your assignments to your specific academic environment. The
seller is not liable for any outcomes resulting from the use or misuse of these notes. By using
these notes, you agree to this disclaimer, which may be updated without notice.
UnisaGuides
,• All 3 attempts to this quiz are provided with detailed explanations to each question to ensure
you have everything necessary to attain an 90%+ in this assignment.
• Use CTRL+F to search questions on this document
• Reach out to us if you have any issues +27 64 074 1961, email:
• BONUS!!!
On the last page of this document you will find a Google drive link with the following :
→
,
, Calculations:
Calculation of the capital allowance to be claimed by Ubuntu (Pty) Ltd on the second-hand machine
for the 2023 year of assessment ending 28 February, assuming Ubuntu (Pty) Ltd is a Small Business
Corporation.
Small Business Corporations (SBCs) in South Africa are eligible for accelerated capital
allowances.
The calculation for the capital allowance on the machine is as follows: Cost of the machine: R1 800
000
For Small Business Corporations, you can claim a 100% allowance for machinery and equipment
(Section 12C of the Income Tax Act). So, the capital allowance for the machine is:
Capital allowance = Cost of the machine Capital allowance = R1 800 000
Therefore, the correct answer for the capital allowance to be claimed by Ubuntu (Pty) Ltd on the
machine is: c. R1 800 000
TAX2601
Assignment 4
Semester 2 - 2023
DUE: 09 October 2023
Disclaimer
These study notes are meant to aid your academic journey. They are not a substitute for
individual research or professional guidance, and their accuracy, while strived for, is not
guaranteed. You are responsible for verifying the information and maintaining academic
integrity by avoiding plagiarism and adhering to citation rules. The notes may not cover all
variations of a subject, so tailor your assignments to your specific academic environment. The
seller is not liable for any outcomes resulting from the use or misuse of these notes. By using
these notes, you agree to this disclaimer, which may be updated without notice.
UnisaGuides
,• All 3 attempts to this quiz are provided with detailed explanations to each question to ensure
you have everything necessary to attain an 90%+ in this assignment.
• Use CTRL+F to search questions on this document
• Reach out to us if you have any issues +27 64 074 1961, email:
• BONUS!!!
On the last page of this document you will find a Google drive link with the following :
→
,
, Calculations:
Calculation of the capital allowance to be claimed by Ubuntu (Pty) Ltd on the second-hand machine
for the 2023 year of assessment ending 28 February, assuming Ubuntu (Pty) Ltd is a Small Business
Corporation.
Small Business Corporations (SBCs) in South Africa are eligible for accelerated capital
allowances.
The calculation for the capital allowance on the machine is as follows: Cost of the machine: R1 800
000
For Small Business Corporations, you can claim a 100% allowance for machinery and equipment
(Section 12C of the Income Tax Act). So, the capital allowance for the machine is:
Capital allowance = Cost of the machine Capital allowance = R1 800 000
Therefore, the correct answer for the capital allowance to be claimed by Ubuntu (Pty) Ltd on the
machine is: c. R1 800 000
