TAX Assignment 3 Semester 2.

Course Assessment number: Due date: Assessment criteria TAX2601 3 (semester 2) 6 Sep 2022 - 8h00 Learning units 3 - 5 are covered in this assessment Instructions: • You may write or type your answers, however, it must be uploaded on myUnisa as ONE document in a .pdf format. • You need to do all the questions. • Start each question on a new (separate) page and number the questions clearly. • This assessment will count 20% towards your final mark. • You are REMINDED that answers that you submit needs to be your own work as it reflects YOUR understanding of taxation. No group efforts are allowed. If you are part of a class or tutor group, DO NOT discuss the assessment in class – do it on your own and there will be no allegations of plagiarism. Any indication of academic misconduct will be allocated a mark of 0% for the assessment. • It is best to not wait until the last moment to submit your answers. Rather finish the assessment a day or two before the due date and time and submit it earlier. This will circumvent the risks of e.g. running out of data, no electricity, system issues, etc. Assumptions for answering the questions: 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 4. Show all workings, where applicable. Where an amount is subject to a limitation, clearly indicate the application 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.