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Question 3 (15 Marks) X and Y are in a partnership and their main business is the construction of houses. They share equally in the profits and losses of the partnership. The clients of the business are responsible for the purchase of building material. On a small scale they also offer clients a service of drafting plans for houses. They decided to register their business as a micro business for turnover tax purposes in the 2021 year of assessment. The following amounts relate to various amounts received by the micro business for that year: R Construction services 785 000 Drafting services 25 000 Government grant exempt from tax under section 12P 10 000 Proceeds from sale of business tools 4 000 Interest earned on the business bank account 6 000 Refund received 4500 Total income from business activities 834 500 Notes: 1. The refund received by the business relates to faulty equipment that was returned to the supplier. 2. The construction services figure includes an amount of R15 000 received from a client for a contract concluded in the previous year of assessment. The R15 000 had accrued to the business in the previous year of assessment and was subject to normal tax. 3. The construction figure also includes an amount of R50 000 from the carrying on of business activities in Lesotho. Required: Calculate the turnover tax payable for the 2021 year of assessment

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