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3 TAX2601
Oct / Nov 2021
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QUESTION 1 (25 marks, 30 minutes)
GoSolar (Pty) Ltd (GoSolar) is a South African company that manufactures solar panels for commercial
and residential use, in an industrial area of Johannesburg. The company’s year of asses...
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UNIVERSITY EXAMINATIONS
Oct/Nov 2021
TAX2601
Principles of Taxation
100 Marks
Duration 2 Hours
(plus 60 minutes for upload)
This paper consists of nine (9) pages plus the annexure (p i).
IMPORTANT INSTRUCTIONS:
1. All amounts exclude VAT unless stated otherwise.
2. All persons mentioned are residents of the Republic of South Africa unless stated otherwise.
3. SARS = South African Revenue Service
The answering of this paper:
1. This paper consists of four (4) questions.
2. Answer all the questions.
3. Start each question on a new (separate) page.
4. Write your student number on the top of each page.
5. Show all workings, where applicable. Where an amount is subject to a limitation, clearly indicate the appli-
cation of the limitation. Where any item is exempt from tax or not allowable as a deduction, this must be
indicated, and a brief reason provided. All amounts must be rounded to the nearest Rand.
6. Proposed timetable (try as far as possible not to deviate from this timetable):
Question Topic Marks Minutes
1 Income tax liability of a company 25 30
2 Income tax liability of a small business corporation 25 30
3 Capital gains tax 25 30
4 Provisional tax payments and gross income definition 25 30
- Additional time for upload of your answer file in pdf - 60
TOTAL 100 180
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2 TAX2601
Oct / Nov 2021
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Commence the submission (uploading) of your answers as soon as you have completed the
assessment, do not wait for the session to conclude.
You MUST start uploading your answer file at 13:00 (2 hours after the start of the exam session) at the
latest, to allow enough time for any delays in the process. Cut-off time for submission is 14:00.
You have to submit your answers in ONE PDF FILE – ensure ALL your pages are in one file.
The file name of your pdf document must be in the following format:
Student number, space, TAX2601. For example: 33445566 TAX2601.
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