Exam (elaborations)
TAX3761 TEST 4 (COMPLETE ANSWERS) SOLUTIONS 2014
- Institution
- University Of South Africa (Unisa)
TAX3761 TEST 4 (COMPLETE ANSWERS) SOLUTIONS 2024
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lOMoARcPSD|44532475TAX3761 - Test 4 - 2 September 2024
Management Accounting (University of South Africa)
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, lOMoARcPSD|44532475
COLLEGE OF ACCOUNTING SCIENCES
DEPARTMENT OF TAXATION
TEST 4 – 2 SEPTEMBER 2024
TAX3761 - TAXATION OF BUSINESS ACTIVITIES AND INDIVIDUALS
(40 marks)
2 hours (including 15 minutes download and 30 minutes upload time)
THIS PAPER CONSISTS OF SIX (6) PAGES plus Annexures pp i - vii
IMPORTANT INSTRUCTIONS:
Assumptions:
1. All amounts exclude Value-Added Tax (VAT) unless specifically stated otherwise.
2. The VAT rate increased from 14% to 15% from 1 April 2018.
3. All persons mentioned are residents of the Republic of South Africa unless stated otherwise.
4. SARS = South African Revenue Service.
5. All transactions are conducted with registered VAT vendors, unless specifically stated otherwise.
6. Valid tax invoices and required documentation are obtained for all transactions.
The answering of this paper:
1. This is a closed-book test.
2. This paper consists of one (1) question, with three (3) parts.
3. All questions and sub-sections (parts) must be answered.
4. Each sub-section (part) must be commenced on a new (separate) page.
5. All workings, where applicable, must be shown. Where an amount is subject to a limitation,
clearly indicate the application of the limitation. Where any item does not form part of gross income,
is exempt from tax or not allowable as a deduction, this must specifically be indicated, and a short
reason should be provided. Provide references to the relevant Acts, where indicated.
6. All amounts must be rounded to the nearest Rand.
Honesty Declaration:
By submitting my solution to the test, I declare that:
• I know what plagiarism is, that plagiarism is wrong and that disciplinary steps can be taken
against me if I am found guilty of plagiarism.
• This solution, submitted by myself, is my own work.
• I have not assisted any other student in any manner, and I have not had the assistance of
any other person, in completing this test.
• I will not assist any other student in any manner, and I will not obtain the assistance of any
other person, in completing this test.
• I know that if I am found to be in violation of this declaration, I will receive 0% for this test.
Please note: You do not have to sign the declaration. By submitting your solution, you
automatically declare that you adhere to all the above with regards to this specific assessment.
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