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Homework answers / question archive / Taxation questionCurrency South African Rand ( R) Assume the following: o The business has a financial year that ends on the last day of February
Taxation questionCurrency South African Rand ( R) Assume the following:
o The business has a financial year that ends on the last day of February.
o The business is a registered category A VAT vendor.
o All amounts include VAT, unless otherwise stated or if the context indicates otherwise.
o The business is in possession of valid tax invoices where applicable.
o The business commences trading on 1 July 2019.
Legal fees of R17 250 will be payable to attorneys for registering your business logo as a trademark (as defined in the Trade Marks Act, 1993) on 1 May 2019
The required:
a) Discuss whether the legal fees of R17 250 payable on 1 May 2019 will be deductible by your business for normal tax purposes during the 2020 year of assessment.
