Assignment Details: TAX2601 Assignment 4 Quiz for Semester 2 - 2023
Closing Date: October 9, 2023
Objective: Achieve a perfect score with a guaranteed 100% quality submission!
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Three Quiz Attempts: You have the opportunity to make three quiz attempts.
Detailed Calculations: Ea...
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, Calculations:
Calculation of the capital allowance to be claimed by Ubuntu (Pty) Ltd on the second-hand machine
for the 2023 year of assessment ending 28 February, assuming Ubuntu (Pty) Ltd is a Small Business
Corporation.
Small Business Corporations (SBCs) in South Africa are eligible for accelerated capital
allowances.
The calculation for the capital allowance on the machine is as follows: Cost of the machine: R1 800
000
For Small Business Corporations, you can claim a 100% allowance for machinery and equipment
(Section 12C of the Income Tax Act). So, the capital allowance for the machine is:
Capital allowance = Cost of the machine Capital allowance = R1 800 000
Therefore, the correct answer for the capital allowance to be claimed by Ubuntu (Pty) Ltd on the
machine is: c. R1 800 000
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