Question: SQUESTION 1 ( 2 0 Marks ) 1 . 1 Ben ( 5 5 years old ) is a sole proprietor of ABC Bakery. He
SQUESTION Marks Ben years old is a sole proprietor of ABC Bakery. He qualified and registered as a microbusiness for tax purposes in the year of assessment. The following amounts relate to various amounts received by the business for the year. Sales during the year R Government grant exempt from tax R Proceeds from sale of oven R Interest earned on business bank account R Refund received relates to faulty equipment returned to supplier R A debtor owed Ben R for goods bought on September R Additional Information Notes Included in the sales figure is an amount R received from a client for a contract concluded in the year of assessment and was subject to normal tax. Also included in the sales figure is an amount of R for the sales of cupcakes to a bakery in Lesotho. Required: Calculate the turnover tax payable for the year of assessment. Markshow me the steps to solve
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