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Question 1 XYZ (Pty) Ltd estimated its taxable income to be 800,000 at the beginning...

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Finance

Question 1

XYZ (Pty) Ltd estimated its taxable income to be 800,000 at the beginning of the accounting period ended 31 July 2022.

Required:

(i). Calculate tax payable during the year. (6 marks)

(ii). Calculate self-assessment tax (SAT) payments. (8 marks).

(iii). Explain the consequences of delaying paying the amount due to the government. (3 marks)

(iv). Describe four (4) disposals that are specifically exempted from capital gains tax. (8 marks).

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