LSB2605
Assignment 2 Semester 2 2023
Unique Number:
Due Date: 18 September 2023
QUESTION 1
Question 1
ABC Electronics is a sole proprietorship that sells electronic gadgets. The business’s total
annual turnover is R1,600,000, of which 25% is the cost price of the equipment it stocks.
The owner recently hired two employees and wants to ensure that he complies with labour
laws.
1.1) With which two bodies must ABC Electronics register as an employer? (2)
DISCLAIMER1.2)&IsTERMS
ABC Electronics
OF USE required to withhold taxes on behalf of its employees? Explain ABC’s
1. Educational
duties Aid:
fully.These
(4) study notes are designed to serve as educational aids and should not be considered as a
substitute for individual research, critical thinking, or professional guidance. Students are encouraged to
conduct their own extensive research and consult with their instructors or academic advisors for specific
1.3) Can
assignment ABC Electronics deduct employees’ wages from their total revenue to determine
requirements.
2. PersonaltheirResponsibility: Whilethe
tax liability under every effort has
Turnover Taxbeen made(2)
system? to ensure the accuracy and reliability of the
information provided in these study notes, the seller cannot guarantee the completeness or correctness of all
the content. It is the responsibility of the buyer to verify the accuracy of the information and use their own
1.4) Is ABC Electronics eligible to register for turnover tax? (2)
judgment when applying it to their assignments.
3. Academic Integrity: It is crucial for students to uphold academic integrity and adhere to their institution's
policies and guidelines regarding plagiarism, citation, and referencing. These study notes should be used as a
tool for learning and inspiration, but any direct reproduction of the content without proper acknowledgment and
citation may constitute academic misconduct.
4. Limited Liability: The seller of these study notes shall not be held liable for any direct or indirect damages,
losses, or consequences arising from the use of the notes. This includes, but is not limited to, poor grades,
academic penalties, or any other negative outcomes resulting from the application or misuse of the information
provided.
Assignment 2 Semester 2 2023
Unique Number:
Due Date: 18 September 2023
QUESTION 1
Question 1
ABC Electronics is a sole proprietorship that sells electronic gadgets. The business’s total
annual turnover is R1,600,000, of which 25% is the cost price of the equipment it stocks.
The owner recently hired two employees and wants to ensure that he complies with labour
laws.
1.1) With which two bodies must ABC Electronics register as an employer? (2)
DISCLAIMER1.2)&IsTERMS
ABC Electronics
OF USE required to withhold taxes on behalf of its employees? Explain ABC’s
1. Educational
duties Aid:
fully.These
(4) study notes are designed to serve as educational aids and should not be considered as a
substitute for individual research, critical thinking, or professional guidance. Students are encouraged to
conduct their own extensive research and consult with their instructors or academic advisors for specific
1.3) Can
assignment ABC Electronics deduct employees’ wages from their total revenue to determine
requirements.
2. PersonaltheirResponsibility: Whilethe
tax liability under every effort has
Turnover Taxbeen made(2)
system? to ensure the accuracy and reliability of the
information provided in these study notes, the seller cannot guarantee the completeness or correctness of all
the content. It is the responsibility of the buyer to verify the accuracy of the information and use their own
1.4) Is ABC Electronics eligible to register for turnover tax? (2)
judgment when applying it to their assignments.
3. Academic Integrity: It is crucial for students to uphold academic integrity and adhere to their institution's
policies and guidelines regarding plagiarism, citation, and referencing. These study notes should be used as a
tool for learning and inspiration, but any direct reproduction of the content without proper acknowledgment and
citation may constitute academic misconduct.
4. Limited Liability: The seller of these study notes shall not be held liable for any direct or indirect damages,
losses, or consequences arising from the use of the notes. This includes, but is not limited to, poor grades,
academic penalties, or any other negative outcomes resulting from the application or misuse of the information
provided.
