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TAX1501 ASSIGNMENT 2 FOR 2ND SEMESTER 2024
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TAX1501ASSIGNMENT 2 FOR 2ND SEMESTER 2024
FEND TUTORIALS
,Question 1
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During the 2024 year of assessment, Tshepo (aged 29) earned a salary of R390,000. Tshepo
contributed R38,000 to DEF Medical Aid Scheme. He is claiming allowable out-of-pocket medical
expenses of R12,500. Tshepo is the main member with no dependants. You are required to calculate
Tshepo’s AMTC.
a.
R1 320
b.
R1 742
c.
R4 368
d.
R4 528
Question 2
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Thabo Mokoena is 67 years old and employed as an accountant. He is the main member on Bonitas,
a registered medical scheme. His wife and their three children are dependent members of the same
scheme. He contributed R8,500 a month to the medical scheme. In addition, he paid qualifying
medical expenses of R18,300 that were not reimbursed by the medical scheme. His taxable income
was R720,000. None of the members registered in the medical scheme has been diagnosed as a
person with a disability as defined by a registered medical practitioner in accordance with the criteria
prescribed by the Commissioner. YOU ARE REQUIRED to calculate the additional medical
expenses tax credit for the current year of assessment.
Whatsapp Marlvin @ +2763 173 8181
, a.
R17 592
b.
R0
c.
R22 485
d.
R1 017
Question 3
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Thabo is 29 years old. In the current year of assessment, he had a taxable income of R320 000. He is
married in community of property to Zanele. They have two minor children, one of whom is
diagnosed with a disability as defined. Thabo registered the disabled child into his medical aid
scheme. He contributes R2 000 a month to the medical scheme, and his employer contributes R2 000
per month. He paid R30 000 qualifying medical expenses for the year. Zanele has her own medical
aid. She registered the other child in her medical aid. They have been members of the medical aid
scheme for the full year of assessment. Calculate Thabo's medical scheme fees tax credit for the
current year of assessment.
a.
R11 688
b.
R4 368
c.
R8 736
d.
R0
Question 4
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Whatsapp Marlvin @ +2763 173 8181
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