Exam (elaborations)
TAX1501 ASSIGNMENT 2 FOR 2024
- Course
- Institution
Expected questions and answers for TAX1501 assignment 2 for 2024. Questions may differ.
[Show more]
Seller
Follow
FENDTUTORIALS
Reviews received
Content preview
TAX1501 ASSIGNMENT 2 FOR 2024By FEND TUTORIALS
+2763 173 8181
, Question 1
Not yet answered
Marked out of 1.00
Flag question
Question text
Samuel is 25 years old. He contributes to a registered medical scheme. He has not been diagnosed as
a person with disability as defined by a registered medical practitioner in accordance with the criteria
prescribed by the Commissioner. He contributes R1 800 a month to the medical scheme. He was a
member of his medical scheme for the full year of assessment. He paid R30 000 qualifying medical
expenses for the year. His employer contributed R21 600 to his medical scheme. His taxable income
for the year is R250 000 for the year of assessment. He did not have any other income or expenses
during the year of assessment. YOU ARE REQUIRED to calculate the additional medical expense
tax credit for the current year of assessment. (Round your answer to the nearest rand)
Select one:
a.
R20 012
b.
R9 425
c.
R0
d.
R4 368
Question 2
Not yet answered
Marked out of 1.00
Flag question
Question text
Russell is 26 years old. She works for ABC Limited as a bookkeeper. Her current (2024) year of
assessment ends on?
Select one:
a.
1 March 2021
b.
29 February 2024
c.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FENDTUTORIALS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.93. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82265 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now