Lml4804 tax law - Study guides, Study notes & Summaries

LML4804 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 26 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App QUESTION 01 (Gross-income) 1.1 Freedom Movement Party (FMP) is a newly established political party which was registered to contest 2024 National and Provisional elections. It concluded a contract with Green Print Media House (Pty) Ltd (GP Media House). In terms of the contract, GP Media House had to print 3000 3D posters on behalf...

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 - 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 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 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 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...

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1.1 Without considering the different years of assessments, discuss the capital gains tax consequences of the assets belonging to Mario. [10 marks] 1.2 Discuss the capital gains tax consequences of an asset belonging to Buhle. [5 marks] SUB-TOTAL FOR QUESTION 1 [15 marks] LML4804 September/November 2021 QUESTION 2 (TAX ADMINISTRATION, TAX AVOIDANCE AND TAXPAYER) Lousie is employed as a sales agent and car mechanic for T&K Motors Ltd (“T&K Motors”). She earns R650 000.00 per annum. On ...

LML4804 ASSIGNMENT 1 MEMO - SEMESTER 2 - 2022 - UNISA QUESTION 1: (GROSS INCOME) 1.1 Nana (Pty) Ltd (‘Nana’) is a high street retailer in cosmetics, over-the-counter medicine, prescription medicine, and general merchandise. Nana also sells gift cards to customers which can later be redeemed for goods. Nana is concerned that sections 63 and 65 of the Consumer Protection Act 68 of 2008 (‘CPA’) specifically states that any receipt in respect of a gift card must be held in separate ‘...

TAX LAW NOTES: STUDY UNIT 1 INTRODUCTION TO TAXATION State Expenditure and Financing: State expenditure is financed through: 1. Increasing the supply of money in the economy – minting own money; 2. Loans; 3. Generating own income. Generating states “Own Income” can be done by; 1. Sale or lease of property; 2. State enterprises and monopolies; 3. Taxes, duties, levies, and user charges. What is tax? Compulsory contribution, payable in money or in kind, to a taxing authority, a...