Bhekisizwe (Pty) Ltd is a company that specialises in the production of custom made mountain bikes. Bhekisizwe (Pty) Ltd is a micro business and qualifies for all of the advantages of turnover tax. The company has a year-end of 29 February 2024. When would the first interim payment of Bhekisizwe (Pty) Ltd be due?

Bhekisizwe (Pty) Ltd is a registered micro business and it has estimated that its taxable turnover for the year of assessment ending 29 February 2024 will be R551 000. Calculate the first interim payment for the 2024 year of assessment for Bhekisizwe (Pty) Ltd (due on 31 August 2023).a.R1 335b.R255c.R510d.R2 670

Bhekisizwe (Pty) Ltd is registered as a micro business and has compiled the following financial information for the current year of assessment:Cash sales to customers                                     R850 000Investment income                                               R15 000Proceed on sale of business vehicle                   R210 000Operating costs of business                               R320 000Repairs & maintenance business vehicle               R3 000Calculate Bhekisizwe (Pty) Ltd's taxable turnover for the 2024 year of assessment.

Bhekisizwe (Pty) Ltd is a small business corporation based in Umlazi. The company recently acquired a machine that is used in the process of manufacture and started using it immediately. How much of the cost of the machine can the company claim as a capital allowance in the first year of assessment that the asset is used?

hekisizwe (Pty) Ltd is a property management company that manages rental properties on behalf of its clients, i.e. rental is collected from the tenants and paid over to the clients of the company (the owners of the properties).  The following are the receipts of the company for the year of assessment ending 31 January 2024.Fees for property management services R 600 000Interest (1)                                                        R 54 200 Local dividends (2)                                            R 25 000 Rentals (3)                                                    R 6 329 000 Notes: 1.The interest earned is from investment with a local bank. 2.Bhekisizwe (Pty) Ltd received dividends from the shares held in ABC (Pty) Ltd. 3.The rentals received were from properties owned by the clients of Bhekisizwe (Pty) Ltd. Calculate the taxable income of Bhekisizwe (Pty) Ltd for the year of assessment ended 31 January 2024 assuming the company incurred tax deductible expenditure of R317 400 and it is not a micro business or a small business corporation.

Bhekisizwe CC is a start-up company established by two sisters. It started trading on 1 July 2023 and have a year of assessment ending on 29 February 2024. The sisters make bread and crackers which are suitable for diabetics and sell them at various food markets in the Gauteng region over weekends.  They recently started selling their products in a well-known supermarket. Additional information:Total receipts for the period from turnover                                                          R540 000Capital receipts (from the sale of equipment not included in total receipts)         R28 000Taxable turnover                                                                                                   R554 000Taxable income                                                                                                     R275 300 Assume Bhekisizwe CC does not qualify as a micro business.  Which one of the following state­ments would cause it not to qualify as a small business corporation?