Exam (elaborations)
TAX1501 ASSIGNMENT 6 FOR 2024
- Course
- TAX1501
- Institution
- University Of South Africa (Unisa)
TAX1501 ASSIGNMENT 6 FOR 2024
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TAX1501ASSIGNMENT 6 FOR 2024
FEND TUTORIALS
, 1. Which of the following does not constitute a deemed disposal:
a.
Reduction of John’s debt
b.
Jones moves from South Africa to the United States of America permanently
c.
Jones’ Death
d.
Jones buying a new Audi A4 motor vehicle on his birthday
2. Amelia is 41 years. She has been diagnosed as a person with disability as defined by a registered
medical practitioner in accordance with the criteria prescribed by the Commissioner. She, her husband
and three children are members of a registered medical scheme. They were members of the medical
scheme for the full year of assessment. She contributed R5 200 per month to the medical scheme. She
contributed for the full year of assessment. In addition, she had qualifying medical expenses of R24 000
that were not refunded by the medical scheme. She had a taxable income of R300 000. YOU ARE
REQUIRED to calculate the medical scheme fees tax credit for the current year of assessment.
a.
R375
b.
R1 617
c.
R11 197
d.
R17 592
Question 3
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Question text
During the current year of assessment Fellen sold her primary residence for R7 500 000. It was purchased
on 1 June 2006 for R3 780 000. She incurred commission costs on the sale of property of R67 500. YOU
ARE REQUIRED to calculate the taxable capital gain to be included in Fellen’s taxable income because
of the sale of the primary residence. You may assume that she did not sell any other capital asset.
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