Exam (elaborations)
TAX1501 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS
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THIS DOCUMENT CONTAINS TAX1501 ASSESSMENT 2 SEM 2 OF 2024 EXPECTED QUESTIONS AND ANSWERS.USE IT CORRECTLY FOR PRACTICE AND PREP.
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Liam's child has a disability as defined. During the current year of assessmentLiam’s child attended 5 speech therapy sessions to improve speech development.
Each speech amounted to R1,500 per session. Liam’s child is registered in her
medical aid. Medical aid paid for all the sessions. YOU ARE REQUIRED to calculate
the qualifying medical expenses for the current year of assessment.
OSCAR THE TUTOR
Select one: oscardiura@gmail.com
a. R7 500 +27737560989
for FAC MAC ECS DSC TAX QMI FIN INV BNU
b. R0 STA tutorials
c. R18 000
d. R1 500
Clear my choice
, Gugu Maseko is 66 years old and self-employed. She is the main member on
Answer saved Discovery, a registered medical scheme. Her husband and their two minor children,
Marked out of 1 who are still studying, are dependent members of the same scheme. She
contributed R7,500 a month to the medical scheme. In addition, she paid qualifying
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question medical expenses of R13,750 that were not reimbursed by the medical scheme. Her
taxable income was R700,000. 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.
a. R14 640
b. R9 688
c. R1 828
d. R19 923
Clear my choice
,Question 5 During the 2024 year of assessment, Jabulani (aged 40) earned a salary of
Answer saved R500,000. He contributed R55,000 to XYZ Medical Aid Scheme. Jabulani is claiming
Marked out of 1 allowable out-of-pocket medical expenses of R23,000. He is the main member with
three dependants. You are required to calculate Jabulani’s AMTC.
Flag
question
a. R0
b. R14 640
c. R5 959
d. R4 515
Clear my choice
, What is the total annual rebate for a person older than 75 years old?
Select one:
a. R29 824
b. R17 235
c. R26 679
d. R3 145
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