Exam (elaborations)
TAX3701 Assignment 1 Semester 2 2024
- Course
- Institution
TAX3701 Assignment 1 Semester 2 2024
[Show more]
2 reviews
By: rethabilemokoena1992 • 1 month ago
By: miasweethern • 1 month ago
Seller
Follow
SmartTutors
Reviews received
Content preview
Assessment 1 (page 1 of 50) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20UNISA 2024 TAX3701-24-S2 Assessment 1
QUIZ
BOOK ASSIGNMENT 02 ON WHATSAPP 064 516 7275
BOOK ASSIGNMENT 02 ON WHATSAPP 064 516 7275
BOOK ASSIGNMENT 02 ON WHATSAPP 064 516 7275
Question 1 BOOK ASSIGNMENT 02 ON WHATSAPP 064 516 7275
Not yet answered
Marked out of 1.00
In which appellate division case did the courts decide that “accrue” means a person
has become entitled to an amount?
A. Mooi SIR
B. SIR v Trust Bank of Africa Ltd
C. CIR v Visser
D. CIR v People’s Stores (Walvis Bay) (Pty) Ltd
Clear my choice
1 of 1 2024/08/14, 20
,Assessment 1 (page 2 of 50) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20
UNISA 2024 TAX3701-24-S2 Assessment 1
QUIZ
Question 2
Not yet answered
Marked out of 1.00
Section 50A to 50H on the Income Tax Act provides for the withholding tax on
interest. Which of the following is not exempt from withholding taxes on interest?
A. Interest on listed debt or paid to a client as de�ned in The Financial Markets
Act
B. interest from a source in the Republic paid to a non-resident
C. Interest paid by national, provincial, or local government
D. interest paid by a bank
Clear my choice
1 of 1 2024/08/14, 20
,Assessment 1 (page 3 of 50) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20
UNISA 2024 TAX3701-24-S2 Assessment 1
QUIZ
Question 3
Not yet answered
Marked out of 1.00
Seeta (Pty) Ltd (‘Seeta’) is a shoe manufacturing company that manufactures shoes
for the local, African, and overseas markets. Seeta is a registered VAT vendor on an
invoice basis with a two-month VAT period. The following amounts were extracted
from the receipts and payments for the two-month period to 31 January 2024. All
amounts are inclusive of VAT where applicable, unless otherwise stated.
December 2023 January 2024
Bad debts recovered (R) 2 240 2 480
Included in bad debts recovered during January is an amount from a Botswana
customer. The original sale amount was R920 and only 80% of the debt was
recovered.
What is VAT on the bad debts recovered?
A. R Nil-exempt
B. R520 Output VAT
C. R520 Input VAT
D. R616 output VAT
Clear my choice
1 of 1 2024/08/14, 20
,Assessment 1 (page 4 of 50) https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=20
UNISA 2024 TAX3701-24-S2 Assessment 1
QUIZ
Question 4
Answer saved
Marked out of 1.00
The general deduction formula requires taxpayers to carry on a trade to be able to
deduct expenses. Which one of the following scenarios would not constitute the
carrying-on of a trade?
A. The taxpayer carries on a business in construction and incurs expenses for
numerous years before income is earned
B. The taxpayer has a trademark and earns royalties by granting the right to use
the trademark
C. The taxpayer invests on the JSE Limited and earns dividends from shares.
D. The taxpayer owns several investments in the form of properties and earns
rental income
Clear my choice
1 of 1 2024/08/14, 20
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 SmartTutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.12. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76202 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now