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Tax3761 Test 1 Semester 1 30 April 2025 solution

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Course Taxation of business activities and Individuals (TAX3761)
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Tax3761 Test 1 Semester 1 30 April 2025 solution Pass with distinction is guaranteed. For more information, Contact us at

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Question 1: VAT Calculation for Ro bonana Mabitleng (Pty) Ltd (RM)
Transactions for VAT period ended 28 February 2025:
1. Purchase of second-hand delivery vehicle:
 Selling price: R287,500
 Open market value: R300,000
 Payment: 80% on purchase date, 20% in April 2025
 Since the seller is a non-VAT vendor, no VAT is applicable on this
purchase.

, 

2. Local laptop sales:
 Amount: R900,000 (excluding VAT)
 VAT: R900,000×0.15=R135,000R900,000×0.15=R135,000

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