Exam (elaborations)
TAX1501 Assignment 4 2024
- Course
- Institution
TAX1501 Assignment 4 2024
[Show more]
Seller
Follow
Wellfocus
Reviews received
Content preview
TAX1501ASSIGNMENT 4 2024
DUE: 25 APRIL 2024
SEMESTER 1 2024
, 1. UNISA
2. 2024
3. TAX1501-24-Y
4. Welcome Message
5. Assessment 4
QUIZ
Assessment 4
Open course index
Open block drawer
Back
During the current year of assessment, Dornan received a low-interest loan from his employer. The taxable
fringe benefit is calculated using which rate?
a. Interest rate on the loan less official interest rate
b. Official interest rate less interest rate on the loan
c. Interest rate on the loan
d. Official interest rate
,Lisa received a monthly travel allowance of R4,000 per month for the entire year of
assessment. The following details pertain to her travel allowance:
Total kilometers for the year: 45,000 km
Business kilometers for the year: 18,500 km
Vehicle cost: R305,000 (including VAT)
Actual vehicle expenses:
Fuel: R12,000
Maintenance: R4,000
Insurance premiums: R6,000
License fees: R700
She maintained a logbook of all business travel. Calculate the actual cost per
kilometer (in Rands).
a. R4.96
b. R4.25
c. R1.47
d. R0.5
Clear my choice
, Sizwe Ngubane is employed as a sales executive for a pharmaceutical company. He receives a travel
allowance for using his car for business trips. The details of his travel allowance are: * Total travel
allowance received for the year – R41,250 * Total kilometers travelled for the year – 20,625 km * Private
kilometers for the year – 9,000 km. Sizwe uses his car, which he purchased for R94,000 (R80,000 cash plus
VAT R14,000). Calculate the business kilometers for the current year of assessment.
a. 9,000 km
b. 31,625 km
c. 11,625 km
d. 20,625 km
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Wellfocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.85. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82265 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now