TAX2601
Assignment 4 2
2023
OCTOBER
,Semester 2
2023 - DUE 9
October 2023
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4/26/23, 10:29 PM Assessment 4: Attempt review
Question 3
Complete
Mark 1.00 out of 1.00
MENU
On 1 February 2023, Ubuntu (Pty) Ltd acquired a new machine for R800 000. The machine was brought into use the same day in a process of
Dashboard / Calculate
manufacture. Coursesthe
/ UNISA
capital /allowance
2023 / toSemester 1 /byTAX2601-23-S1
be claimed Ubuntu (Pty) Ltd/ on
TAX2601 Homefor
this machine Page / Assessment
income 4 for the 2023 year of
tax purposes
assessment ending 28 February. Assume Ubuntu (Pty) Ltd is not a Small Business Corporation, as defined in the Act.
a. R320 000
b. R800 000
c. R160 000
d. R26 667
Question 4
Complete
Mark 1.00 out of 1.00
The following are the transactions of Bhekisizwe for the current year of assessment ended 28 February 2023:
Gross income R945 764
Deductions and allowances R667 865
What is Bhekisizwe's normal tax liability for the 2023 year of assessment, assuming this is a normal company (not a micro business or small
business corporation as defined)?
a. R75 033
b. RNil
c. R13 065
d. R77 812
Question 5
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd has a gardening maintenance contract with Green Fingers CC to maintain its corporate headquarters yard. The terms of
the contract are that the contract is paid in advance on an annual basis. Ngwenya (Pty) Ltd made the payment of R140 000 on 1 January
2023 to cover the period 01 January to 31 December 2023. Determine the amount that is deductible by Ngwenya (Pty) Ltd for its year of
assessment ending 28 February 2023. Assume this is the only prepayment that was made by Ngwenya (Pty) Ltd for the 2023 year of
assessment.
a. R140 000
b. R116 667
c. R23 333
d. R nil
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Assignment 4 2
2023
OCTOBER
,Semester 2
2023 - DUE 9
October 2023
, Stuvia.com Stuvia.com
- The Marketplace
- The study-notes
to Buy and marketplace
Sell your Study Material
4/26/23, 10:29 PM Assessment 4: Attempt review
Question 3
Complete
Mark 1.00 out of 1.00
MENU
On 1 February 2023, Ubuntu (Pty) Ltd acquired a new machine for R800 000. The machine was brought into use the same day in a process of
Dashboard / Calculate
manufacture. Coursesthe
/ UNISA
capital /allowance
2023 / toSemester 1 /byTAX2601-23-S1
be claimed Ubuntu (Pty) Ltd/ on
TAX2601 Homefor
this machine Page / Assessment
income 4 for the 2023 year of
tax purposes
assessment ending 28 February. Assume Ubuntu (Pty) Ltd is not a Small Business Corporation, as defined in the Act.
a. R320 000
b. R800 000
c. R160 000
d. R26 667
Question 4
Complete
Mark 1.00 out of 1.00
The following are the transactions of Bhekisizwe for the current year of assessment ended 28 February 2023:
Gross income R945 764
Deductions and allowances R667 865
What is Bhekisizwe's normal tax liability for the 2023 year of assessment, assuming this is a normal company (not a micro business or small
business corporation as defined)?
a. R75 033
b. RNil
c. R13 065
d. R77 812
Question 5
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd has a gardening maintenance contract with Green Fingers CC to maintain its corporate headquarters yard. The terms of
the contract are that the contract is paid in advance on an annual basis. Ngwenya (Pty) Ltd made the payment of R140 000 on 1 January
2023 to cover the period 01 January to 31 December 2023. Determine the amount that is deductible by Ngwenya (Pty) Ltd for its year of
assessment ending 28 February 2023. Assume this is the only prepayment that was made by Ngwenya (Pty) Ltd for the 2023 year of
assessment.
a. R140 000
b. R116 667
c. R23 333
d. R nil
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Distribution of this document is illegal R13,625
extra per year?
, Stuvia.com - The study-notes marketplace
Downloaded by: 24900ipeleng | Want to earn
Distribution of this document is illegal R13,625 per year?
