TAX2601 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 2 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
TAX2601 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 2 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
TAX2601 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 2 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
All for this textbook (7)
Written for
University of South Africa
TAX2601
All documents for this subject (8)
Seller
Follow
tabbymwesh59
Reviews received
Content preview
[TYPE THE COMPANY NAME]
TAX2601 Assignment
3 (COMPLETE
ANSWERS) Semester
2 2024 - DUE 2
September 2024
[Type the document subtitle]
tabbymwesh59@gmail.com
[Pick the date]
[Type the abstract of the document here. The abstract is typically a short summary of the contents of
the document. Type the abstract of the document here. The abstract is typically a short summary of
the contents of the document.]
Course
Principles of Taxation (TAX2601)
Institution
University Of South Africa (Unisa)
Book
Fundamentals of South African Income Tax
TAX2601 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 2
September 2024 ; 100% TRUSTED Complete, trusted solutions and
explanation
QUESTION 1 (12 marks) Easy Elevators (Pty) Ltd’s (“EE”) core business is
the maintenance of elevators in residential and commercial buildings in the
Gauteng region. It has service agreements with each of its customers and in
terms of these, a monthly maintenance fee of R15 000 is payable on or before
the seventh (7th) day of each month before that month’s service occurs. EE is
a company incorporated in South Africa and its year of assessment ends on
31 March. One of EE’s customers paid an amount of R45 000 into EE’s bank
account on 7 March 2024. This amount is for the maintenance service fees in
respect of the following three months i.e. March 2024 to May 2024. EE was
informed by the customer that the building’s caretaker decided to pay three
months’ fee upfront as he would be out of the country for an extended period
and wanted to ensure the maintenance of the elevators would continue as
usual during this time. REQUIRED MARKS Discuss whether the receipt of the
R45 000 maintenance service fee would constitute gross income of Easy
Elevators (Pty) Ltd as defined in the Income Tax Act 58 of 1962 for the year of
assessment ending 31 March 2024. List all the gross income definition
requirements, discuss each one and briefly refer to case law to strengthen
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 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 tabbymwesh59. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.13. You're not tied to anything after your purchase.
