TAX2601 Assignment 2 Semester 2023 ACCURATE ANSWERS
Questions asked:
Question 3
Not yet answered
Marked out of 1.00
Flag question
Question text
How should a provision in the the Income Tax Act be interpreted, if the meaning is not clear?
a.
The contra fiscum rule is applied first and ...
Question text
How should a provision in the the Income Tax Act be interpreted, if the meaning is not clear?
a.
The contra fiscum rule is applied first and thereafter the literal meaning.
b.
The Act should not be interpreted; it is a set of rules not open for discussion.
c.
The intention of the legislator is the only applied principle (purposive interpretation).
d.
First consider the literal meaning of the words. Note must also be taken of the of the intention of the legislature. If there is more
than one meaning, the contra fiscum rule is applied.
Question 4
Not yet answered
Marked out of 1.00
Flag question
Question text
Which of the following statements is correct?
a.
A taxpayer is not obliged to keep supporting records for five years from the date of submission of a tax return.
b.
A taxpayer is obliged to keep supporting records for 6 years from the date of submission of a tax return.
c.
A registered taxpayer can submit his or her tax return via SARS efiling.
d.
SARS must make an estimated assessment if the taxpayer fails to submit a return.
Question 5
Not yet answered
Marked out of 1.00
Flag question
Question text
Which of the following is incorrect:
a.
There is no burden of proof on the taxpayer.
b.
When determining if the onus has been discharged, the courts assess the balance of probability.
c.
The onus is on the taxpayer to show that an amount is not taxable.
,d.
A taxpayer may request SARS to provide reasons for the assessment.
Question 6
Not yet answered
Marked out of 1.00
Flag question
Question text
Which one of the following statements is correct with respect to refunds due to taxpayers?
a.
SARS may set off refunds on a taxpayer’s income tax against other outstanding taxes owing.
b.
The refund has to be claimed within three years of a self assessment.
c.
The refund has to be claimed within five years of a SARS assessment.
d.
SARS may only make a refund to a taxpayer after such a refund has been audited.
Question 7
Not yet answered
Marked out of 1.00
Flag question
Question text
With regards to the objection procedure a taxpayer must follow, when can a notice of appeal be made by a taxpayer?
a.
After the matter has gone to the Tax Court
b.
After an objection has been disallowed by SARS
c.
After the due date per the assessment
d.
After reasons of a particular assessment have been provided by SARS to the taxpayer
Question 8
Not yet answered
Marked out of 1.00
Flag question
Question text
Which of the following statements is incorrect?
a.
SARS can report a tax practitioner to his or her controlling body for negligent misconduct resulting in avoidance of tax
obligations.
b.
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller itsbesttutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.
