Exam (elaborations)
TAX3761 TEST 4 (COMPLETE ANSWERS) SOLUTIONS 2014
- Course
- Institution
TAX3761 TEST 4 (COMPLETE ANSWERS) SOLUTIONS 2024
[Show more]
Seller
Follow
mbundiSA
Reviews received
Content preview
lOMoARcPSD|44532475TAX3761 - Test 4 - 2 September 2024
Management Accounting (University of South Africa)
Scan to open on Studocu
Studocu is not sponsored or endorsed by any college or university
Downloaded by madiba South Africa stuvia (madibasouthafricastuvia@gmail.com)
, lOMoARcPSD|44532475
COLLEGE OF ACCOUNTING SCIENCES
DEPARTMENT OF TAXATION
TEST 4 – 2 SEPTEMBER 2024
TAX3761 - TAXATION OF BUSINESS ACTIVITIES AND INDIVIDUALS
(40 marks)
2 hours (including 15 minutes download and 30 minutes upload time)
THIS PAPER CONSISTS OF SIX (6) PAGES plus Annexures pp i - vii
IMPORTANT INSTRUCTIONS:
Assumptions:
1. All amounts exclude Value-Added Tax (VAT) unless specifically stated otherwise.
2. The VAT rate increased from 14% to 15% from 1 April 2018.
3. All persons mentioned are residents of the Republic of South Africa unless stated otherwise.
4. SARS = South African Revenue Service.
5. All transactions are conducted with registered VAT vendors, unless specifically stated otherwise.
6. Valid tax invoices and required documentation are obtained for all transactions.
The answering of this paper:
1. This is a closed-book test.
2. This paper consists of one (1) question, with three (3) parts.
3. All questions and sub-sections (parts) must be answered.
4. Each sub-section (part) must be commenced on a new (separate) page.
5. All workings, where applicable, must be shown. Where an amount is subject to a limitation,
clearly indicate the application of the limitation. Where any item does not form part of gross income,
is exempt from tax or not allowable as a deduction, this must specifically be indicated, and a short
reason should be provided. Provide references to the relevant Acts, where indicated.
6. All amounts must be rounded to the nearest Rand.
Honesty Declaration:
By submitting my solution to the test, I declare that:
• I know what plagiarism is, that plagiarism is wrong and that disciplinary steps can be taken
against me if I am found guilty of plagiarism.
• This solution, submitted by myself, is my own work.
• I have not assisted any other student in any manner, and I have not had the assistance of
any other person, in completing this test.
• I will not assist any other student in any manner, and I will not obtain the assistance of any
other person, in completing this test.
• I know that if I am found to be in violation of this declaration, I will receive 0% for this test.
Please note: You do not have to sign the declaration. By submitting your solution, you
automatically declare that you adhere to all the above with regards to this specific assessment.
Downloaded by madiba South Africa stuvia (madibasouthafricastuvia@gmail.com)
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 mbundiSA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.92. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83750 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now