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2021 EXAM ANSWERS - LEGAL ASPECTS OF SMALL BUSINESSESS

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Question 1 After the looting of retail stores in May 2021, Khumbi and his two friends became unemployed as the stores they were working in closed down indefinitely. As they had gained experience in baking bread and cakes at the department store they worked in and because of the high prices of brea...

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  • November 3, 2021
  • 17
  • 2021/2022
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By: lesetjaramutla • 2 year ago

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LEGAL ASPECTS
OF SMALL
BUSINESSESS
Lsb2605
EXAMINATION




EXAMINATION
MEMORANDUM
2021




NOVEMBER 2021

, DECLARATION OF AUTHENTICITY AND ACCURACY


I,………………………………………………………………(Full name/s and surname)

Student number: …………………………………………………..

declare that I am the author of this examination in TLI4801. I further declare that the
entire examination is my own, original, correct work and that where I used other
information and resources, I did so in a responsible manner. I did not plagiarise in
any way and I have referenced and acknowledged any legal resources that I
have consulted and used to complete this examination. By signing this declaration, I
acknowledge that I am aware of what plagiarism is, and the consequences
thereof. Furthermore, I acknowledge that I am aware of UNISA’s policy on plagiarism
and understand that if there is evidence of plagiarism within this document, UNISA may
take the necessary action.

Date: ……………………………………………………..

Place:………………………………………………………


Signature:…………………………………………………….
(provide an electronic signature or type or write your name or surname again)

, QUESTION 1
After the looting of retail stores in May 2021, Khumbi and his two friends became unemployed as the
stores they were working in closed down indefinitely. As they had gained experience in baking bread
and cakes at the department store they worked in and because of the high prices of bread after the
looting, they decide that in September 2021 they will start their own baking business. To assist them
in taking orders while they bake and deliver their baked goods, they decide that they will employ one
person.


1.1 Advise whether Khumbi will be able to claim under the Unemployment Insurance Act 63 of 2001
for the period between June and August 2021 while he is unemployed? If so explain how the UIF
contributions will be paid to the South African Revenue Services (SARS). (5)


The following benefits may be claimed by an unemployed employee:
• unemployment benefits
• illness benefits
• maternity benefits
• adoption benefits
• dependant’s benefits


Where the employer’s employees are obliged to pay employees’ tax because their remuneration
exceeds the threshold of R67 111 per annum, the employer is required to register with SARS for
UIF purposes. This is done by completing the form EMP101 and submitting it to SARS. UIF is
calculated at 1% of the employee’s monthly salary. The employer must make its own contribution
which also amounts to 1% of the employee’s remuneration. Ultimately, an amount equal to 2% of
the employee’s remuneration will thus have to be paid over to SARS for UIF purposes.


Therefor, Khumbi will be able to claim for compensation from the UIF for the period while he was
unemployed.


1.2 While Khumbi and his friends are experienced in baking, they do not have experience in starting a
business and the formalities required. Therefore, you are required to advise them on the
following:

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