Description
TAX3701 Assignment 2 Semester 1 Memo | Due 16 April 2026. All questions fully answered. QUESTION 1 (40 marks/72 minutes)
Thabo Manufacturing (Pty) Ltd (TM) is a South African company located in Durban, South Africa and manufactures a wide range on concrete products. TM’s year of assessment ends on 31 March 2026, is a registered VAT vendor and not a small business corporation as defined. All amounts stated excludes VAT, unless specifically stated otherwise. SARS has approved TM’s process of manufacturing. The managing director has provided you with the following information for the year of assessment ended on 31 March 2026 to calculate the normal income tax liability for the 2026 year of assessment:
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