LML4804 Tax Law (LML4804)

LML4804 EXAM PACK 2022. During the 2003 tax year, Mr Johnson leased a dilapidated but wellsituated shopping centre for a period of 10 years. He intended to sub-let it at a profit. Mr Johnson had to renovate the property in order to render it suitable for letting. His expenditure in this regard during the 2003 tax year included an amount of R30 000 for the replacement of broken windows, an amount of R80 000 for the painting of the building, an amount of R250 000 for the replacement of broken...

LML4804 - Exam test bank includes October november exam 2022 QUESTION 1 (CAPITAL GAINS TAX) After successfully suing The News, a newspaper, for R 5 million, for erroneously publishing that he was a suspect in a cash-in-transit heist, Madala resigned from his job as a diesel mechanic. He immediately went on a shopping spree. Madala bought a customised G-Van for R 900 000 to be used for special trips, and a Badoo Sport for R 300 000 to be used for his short trips. He also bought a penthouse...

LML4804 - TAX LAW ASSIGNMENT (03): Compulsory assignment - Written UNIQUE NUMBER This assignment has to reach UNISA by 19 September 2016. Your answer must not exceed eight (8) typed pages. If you exceed the page limitation, you will be penalised. This assignment counts 15 per cent towards your final mark. FACTS: On assumption that all the transactions were made in the 2014/15 year of assessment answer the following questions:- Summary of Facts QUESTION 1: CAPITAL GAINS TAX (30 ...

LML4804 Assignment 1 -Income Tax Law. Question 1 In order to advise Mofokeng if the proceeds of the sale of the fixed property must be included in his gross income for the 2016/2017 year of assessment one has to start by analysing the definition of gross income and it various aspects. “Gross Income” “Gross income” is defined in Section 1 of the Income Tax Act 58 of 1962 which reads as follows: “‘gross income’ in relation to any year or period of assessment, means, i) in the...

LML4804 EXAM PACK. 1 LML4804: 2021 FEEDBACK TO ASSIGNMENT 03 MODEL ANSWERS MARKING RUBRIC: Assessment will take place in accordance with the assessment criteria provided to the students in the form of the following rubric: Criteria & Qualities Poor (0-50) Good (50-70) Excellent (70-100) The legal problem in the question is identified No problem identified. Issue is identified but not all problems are highlighted All issues are identified and explained briefly in student’...

LML4804 Assignment 1. Name: Ntokozo Ronald Mabuya Student Num: Unique code: Module: LML4804 Question 1 A. Section 1 of the Income Tax Act defines gross income. Gross income in relation to any year or period of assessment, means: in the case of any resident the total amount in cash, received by or accrued to in favour of such resident during such year or period of assessment. In the case of any other person other than a resident the total amount in cash or otherwise, received by or ac...