Exam (elaborations)
Tax3701 Assignment 2 Semester 1 2023
- Institution
- University Of South Africa (Unisa)
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3/26/24, 2:57 PM Assessment 1 (page 1 of 50)TAX3701-24-S1 Assessment 1
QUIZ
Question 1
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Tshesane (Pty) Ltd is a registered Value-Added Tax (VAT) vendor that makes only
taxable supplies. Below is a summary of income received during the two-months
period ended 31 December 2023:
Interest income R23 450
Revenue from sales of goods R123 000
Insurance receipt (in respect of damaged microwave used by staff) R8 500
All amounts include VAT unless otherwise stated.
Required:
Calculate the total output tax arising from the above transactions.
a. R20 211
b. R17 152
c. R19 102
d. R16 043
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