Taxation (ACCT341)

Well-structured summary on how to calculate employees tax and provisional tax, set out in the manner expected of us in assessments (displayed in the form of the relevant tax framework with notes for each line item for a clear picture.

Summary of the key details regarding the types of fringe benefits and how to value them, with reference to the 7th schedule of the income tax act, in simple language.

Summary of the treatment and calculation of allowances and deductions as set out in S8 of the income tax act.

Summary of how to treat retirement lump sums, retirement lump sum withdrawal benefits and several benefits in the tax framework, as well as their reductions. Set out in an understandable manner.

An in-depth summary of how to determine and calculate taxable capital gains for a natural person and company, according to the CGT model with reference to the 8th schedule of the income tax act.

Summary of the key special deductions in the determination of taxable income, with reference to S23 of the income tax act among other sections. This document also summarises what constitutes an assessed loss and how to treat them in different situations.

Summary of the key principles regarding general deductions, with reference to S11(a) and S23(g) of the income tax act as well as case law principles.

Summary of the key gross income exemptions as per the income tax act, set out in an understandable manner.

Summary of the key gross income special inclusions as per S1 of the income tax act, that are examinable in third year tax, set out in an easy-to-understand manner.

This is a simple and effective notes to help you understand the concepts and principles taught in the 3rd year of Taxation. The summary is guaranteed to give you a good indication of what usually comes out in the tests and exams. There is an in-depth analysis of each topic studied in the 1st semester of Taxation 3rd year. It contains the following topics: - Special inclusions - Exemptions - General deductions - Special deductions - Assessed losses - Capital allowances - Capital Gain...