TAX 3701 ASSIGNMENT 1

QUESTION 1 What is the output VAT on the income from transporting goods? (1) R63 375 (2) R84 783 (3) R97 500 (4) Rnil R650 000 × 15/115 = R84 783 3 QUESTION 2 What is the output VAT on the income from transporting passengers? (1) R28 614 (2) R30 391 (3) Rnil – exempt supply (4) Rnil – zero-rated supply  Note that the supply of public transport by road or rail is exempt from VAT if the transportation o takes place between two places within the RSA o is of fare-paying pass...