Page 94 - F6 Slide - Taxation - Lecture Day 4

Example: Second Hand Goods

Simuyne (Pty) Ltd, a vendor for VAT purposes, acquired

a second-hand delivery bicycle from a non-vendor for

use in its business. The purchase price of the delivery

bicycle was R630 and the market value was R780. The

purchase price was paid in full.

Determine whether any input tax may be

claimed in respect of the purchase.