TAX2601 ASSIGIGNMENT 5 COMPERATIVE ANSWERS, SEM 2 2023
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Course
TAX2601 - Principles Of Taxation (TAX2601)
Institution
University Of South Africa (Unisa)
THIS DOCUMENT CONTAINS TAX2601 ASSIGIGNMENT 5 COMPERATIVE ANSWERS, SEM 2 2022. CORRECT USE FOR RESEARCH AND COMPARISON PURPOSES WIL HELP YOU SCORE MORE THAN 75% IN THIS ASSESSMENT
Started on Saturday, 11 November 2023, 7:21 AM
State Finished
Completed on Saturday, 11 November 2023, 9:34 AM
Time taken 2 hours 13 mins
Marks 78.00/95.00
Grade 82.11 out of 100.00
Question 1 Which of the following is correct with regards to Partnerships?
Complete
M ark 1.00 out of a. A partnership is a separate legal enity and is a separate taxpayer.
1.00
b. A partner's tax liability is calculated by using the tax tables of the partnership.
Flag question
c. A partnership pays taxes for the partners in the business as it is a business on its own.
d. A partner in a partnership is assessed separately from the partnership.
Question 2 Ngwenya (Pty) Ltd leases a one-bedroom flat in Durban for a one-year period from 1 August 2022 to 31 July 2023
Complete for its employees who must travel from other locations to work in Durban for extended periods of time. The
company paid the annual rental of R120 000 in advance on 1 August 2022. How much is deductible by Ngwenya
M ark 2.00 out of
(Pty) Ltd in determining its taxable income for the year of assessment ended 28 February 2023.
2.00
Flag question
a. R nil
b. R70 000
c. R50 000
d. R120 000
Question 3 Assume the following taxpayer information: The taxpayer is a South African manufacturing company (not a small
Complete business corporation as defined) with a 31 March 2023 year of assessment. Calculate the base cost for purposes of
capital gains tax for the office building BELOW. Assume paragraph 26 of the 8th Schedule applies.
M ark 3.00 out of
3.00
Flag question
a. R1 450 000
b. R1 475 000
c. R1 825 000
d. R1 800 000
Which of the following is true with regards to a company?
a. A company is not a separate legal entity and is not a separate taxpayer from its shareholders.
b. The term company includes a foreign partnership as these are businesses
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