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Here are the best resources to pass TAX 3701 ASSIGNMENT 1. Find TAX 3701 ASSIGNMENT 1 study guides, notes, assignments, and much more.
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TAX 3701 ASSIGNMENT 1
Exam (elaborations) • 14
pages
• 2021
QUESTION 1

What is the output VAT on the income from transporting goods?

(1) R63 375

(2) R84 783

(3) R97 500

(4) Rnil

R650 000 × 15/115 = R84 783

3

QUESTION 2

What is the output VAT on the income from transporting passengers?

(1) R28 614

(2) R30 391

(3) Rnil – exempt supply

(4) Rnil – zero-rated supply

 Note that the supply of public transport by road or rail is exempt from VAT if the

transportation

o takes place between two places within the RSA

o is of fare-paying pass...
QUESTION 1

What is the output VAT on the income from transporting goods?

(1) R63 375

(2) R84 783

(3) R97 500

(4) Rnil

R650 000 × 15/115 = R84 783

3

QUESTION 2

What is the output VAT on the income from transporting passengers?

(1) R28 614

(2) R30 391

(3) Rnil – exempt supply

(4) Rnil – zero-rated supply

 Note that the supply of public transport by road or rail is exempt from VAT if the

transportation

o takes place between two places within the RSA

o is of fare-paying pass...
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