Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the tax value of the machine BELOW. Information pertaining to manufacturing machine: Events Date Amount R560 000 Sold 30 November 2021 Puchased 1 June 2019 R230 000 Recoupment (before limited to capital allowances previously claimed) R514 000 Oa. R46 000 O b. R nil OCR184 000 Od. R284 000

Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the tax value of the machine BELOW. Information pertaining to manufacturing machine: Events Date Amount R560 000 Sold 30 November 2021 Puchased 1 June 2019 R230 000 Recoupment (before limited to capital allowances previously claimed) R514 000 Oa. R46 000 O b. R nil OCR184 000 Od. R284 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a
small business corporation as defined) with a 31 March 2022 year of assessment. Calculate the tax value of
the machine BELOW.
Information pertaining to manufacturing machine:
Events
Date
Amount
R560 000
Sold
30 November 2021
Puchased
1 June 2019
R230 000
Recoupment (before limited to capital
allowances previously claimed)
R514 000
Ⓒa. R46 000
Ob. R nil
OCR184 000
Od. R284 000

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