LSB2605 - Legal Aspects of Small Businesses (LSB2605)
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LSB2605
Assignment 2 Semester 2 2023
Unique Number:
Due Date: 18 September 2023
QUESTION 1
Question 1
ABC Electronics is a sole proprietorship that sells electronic gadgets. The business’s total
annual turnover is R1,600,000, of which 25% is the cost price of the equipment it stocks.
The owner recently hired two employees and wants to ensure that he complies with labour
laws.
1.1) With which two bodies must ABC Electronics register as an employer? (2)
DISCLAIMER1.2)&IsTERMS
ABC Electronics
OF USE required to withhold taxes on behalf of its employees? Explain ABC’s
1. Educational
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1.3) Can
assignment ABC Electronics deduct employees’ wages from their total revenue to determine
requirements.
2. PersonaltheirResponsibility: Whilethe
tax liability under every effort has
Turnover Taxbeen made(2)
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1.4) Is ABC Electronics eligible to register for turnover tax? (2)
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