TAX3701 Taxation of Business Activities (TAX3701)

TAX3701 EXAM PACK MAY/JUNE 2011 tax3701 QUESTION 1 VAT Payable /refundable VAT Input /(output) Board and Lodging – Mr. Bryan R29 000 X 14/114 (R3561) Board and Lodging – other exempt s12c - Insurance claim received Office cupboard R1200 X 14/114 (R147) Flowers used for decoration R5000 X 14/114 (R614) Laser printer – financial services Long –term insurance exempt - Furniture and Fittings R7800 X 14/114 R958 Vehicle payment R8400 X 14/114 R1032 Purchases – food and cl...