Page 101 - ADVANCED TAXATION - Day 1 Slides

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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.