Page 127 - ADVANCED TAXATION - Day 1 Slides

Example

Manufacturers Ltd recently suffered a robbery at its premises. Their

insurance company reimbursed them in cash, as follows:

R

 For delivery vehicle stolen 132 000

 For passenger vehicle stolen (input tax was denied with purchase)

100 000

 For microwave oven in canteen stolen (input tax was denied with

purchase) 2 500

Calculate the output tax in respect of the insurance payment

received.