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TAX3701 Assignment 2 Semester 1 2026 - DUE 16 April 2026; 100% CORRECT AND TRUSTED SOLUTIONS

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Taxation of Business Activities
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TAX3701 Assignment 2 Semester 1 2026 - DUE 16 April 2026; 100% CORRECT AND TRUSTED SOLUTIONS

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, TAX3701 Assignment 2 Semester 1 2026 - DUE 16 April 2026


SOLUTION: NORMAL TAX LIABILITY

Thabo Manufacturing (Pty) Ltd
Year of assessment: 31 March 2026



🔹 Step 1: Gross Income

Sales

R27 789 261

✔ Bad debt (R22 520)

 Customer liquidated → qualifies as bad debt (s11(i))
 Already included in sales → deduct later



Other Income

Item Amount Tax Treatment
Interest (SA) 17 780 Taxable
Local dividends 114 520 Exempt (s10(1)(k))
Foreign dividends (3%) 145 200 Taxable (<10% shareholding)

✔ Include:
= 17 780 + 145 200
= R162 980



✅ Total Gross Income

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