, Normal income tax computation — year of assessment ended 31 March 2026
Gross income (s 1ITA) R R R
Sales (note 1) 27789261
Recoupment — prior year doubtful debt allowance (s 11(j)) 31250
Recoupment — delivery truck disposed (s 8(4)(a)) (note 11b) 3750
Dividends — South African companies (note 15a) 114520
Dividends — foreign company (note 15b) 145200
Interest — South African banks (note 15c) 17780
Total gross income 28101761
Less: exempt income R R R
SA dividends — exempt s 10(1)(k)(i) (note 15a) -114520
Foreign dividends — partial exemption s 10B(3): 73% × R145 200 (note 15b) -105996
Total exempt income -220516
Income 27881245
Less: allowable deductions R R
Cost of sales (s 22)
Opening stock — lower of cost/market value (R3 825 250) 3785261
Purchases of raw material 15125187
Gross income (s 1ITA) R R R
Sales (note 1) 27789261
Recoupment — prior year doubtful debt allowance (s 11(j)) 31250
Recoupment — delivery truck disposed (s 8(4)(a)) (note 11b) 3750
Dividends — South African companies (note 15a) 114520
Dividends — foreign company (note 15b) 145200
Interest — South African banks (note 15c) 17780
Total gross income 28101761
Less: exempt income R R R
SA dividends — exempt s 10(1)(k)(i) (note 15a) -114520
Foreign dividends — partial exemption s 10B(3): 73% × R145 200 (note 15b) -105996
Total exempt income -220516
Income 27881245
Less: allowable deductions R R
Cost of sales (s 22)
Opening stock — lower of cost/market value (R3 825 250) 3785261
Purchases of raw material 15125187
