HFM107V ASSIGNMENT 2 SEMESTER 2 (CORRECT ANSWERS) DUE 11th SEPTEMBER 2024 GUARANTEED DISTINCTION.
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Course
HFM107V
Institution
University Of South Africa
Multiple-Choice Questions (MCQs) for Hospitality Students
Theory Questions:
1. What is the primary residence exclusion in South African capital gains tax?
o A) R2 million exclusion on any capital gain.
o B) R2 million exclusion only on properties valued over R5 million.
o C) R1.5 million exclu...
HFM107V ASSIGNMENT 2
SEMESTER 2 (CORRECT
th
ANSWERS) DUE 11
SEPTEMBER 2024
GUARANTEED DISTINCTION.
Multiple-Choice Questions (MCQs) for Hospitality Students
Theory Questions:
1. What is the primary residence exclusion in South African capital gains tax? ANSWER A
o A) R2 million exclusion on any capital gain.
o B) R2 million exclusion only on properties valued over R5 million.
o C) R1.5 million exclusion on any capital gain.
o D) R300,000 exclusion on properties under R2 million.
2. Which of the following is considered a "capital asset" under South African tax law?
o A) A company’s inventory.
o B) Personal use items, like furniture.
o C) Investment property.
o D) Cash in a bank account.
, Multiple-Choice Questions (MCQs) for Hospitality Students
Theory Questions:
1. What is the primary residence exclusion in South African capital gains tax? ANSWER A
o A) R2 million exclusion on any capital gain.
o B) R2 million exclusion only on properties valued over R5 million.
o C) R1.5 million exclusion on any capital gain.
o D) R300,000 exclusion on properties under R2 million.
2. Which of the following is considered a "capital asset" under South African tax law?
o A) A company’s inventory.
o B) Personal use items, like furniture.
o C) Investment property.
o D) Cash in a bank account.
3. What is the annual exclusion amount for capital gains for individuals in South
Africa?
o A) R20,000
o B) R40,000
o C) R100,000
o D) R10,000
4. Which of the following does NOT increase the base cost of a property?
o A) Major renovations.
o B) Maintenance and repair costs.
o C) Legal fees during acquisition.
o D) Transfer duties.
5. When selling multiple assets, how is the capital gain or loss determined?
o A) By calculating the gain or loss for each asset separately and then summing
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