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On 1 February 2024, Ubuntu (Pty) Ltd acquired a second-hand machine for R600 000...
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On 1 February 2024, Ubuntu (Pty) Ltd acquired a second-hand machine for R600 000. The machine was brought into use the same day in a process of manufacture.
Calculate the allowance to be claimed by Ubuntu (Pty) Ltd on this machine for the 2025 year of assessment ending 28 February 2025. Assume Ubuntu (Pty) Ltd is not a Small Business Corporation, as defined in the Act.
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