• Wrong document? Swap it for free
  • Written by students who passed
  • Immediately available after payment
  • Read online or as PDF
  • 4.6 TrustPilot
0
Sell
Where do you study
Your language
Start selling Create your account
  • University Of South Africa (Unisa)
  • TAX3702 - Taxation of Individuals (TAX3702)
To add items to your wishlist, you must be logged in
Document preview thumbnail
Preview 1 out of 10 pages
Summary

Summary Tax Nov Solution

5.0
(1 reviews)
- sold
10 pages
2019/2020 Written for academic year
Institution
University Of South Africa (Unisa)
Course
TAX3702 - Taxation of Individuals (TAX3702)
Document preview thumbnail
Preview 1 out of 10 pages

TAX3702 QUESTION AND ANSWERS BASED ON THE 2020 SARS TAX CHANGES. UNDERSTAND, PASS, EXCEL WITH THESE PRACTICE QUESTIONS AND ANSWERS.

Content preview

(a) SOLUTION TO QUESTION 1 PART A


RICHARD - 56 years
NET NORMAL TAX FOR THE 2014 YEAR OF ASSESSMENT


Salary ( R) 205 000

Travel allowance ( R)
Allowance 60 000
Less reduction 68 022
Limited to zero (8 022) -
Reduction is greater of:
Actual 46 609
Deemed 68 022

Total kms 9 800
Private kms 1 400
Business kms 8 400

Deemed cost/km
Determined value (cost plus VAT) 260 000

Fixed cost 92 683
Total km/s 9 800
Total days travel allowance was used 245

Fixed cost/km(92 683/9 800)x245/366 6.331
Fuel cost/km 1.248
Maintenance cost/km 0.519
Total cost/km 8.098

Total deemed travel cost (rate x bus kms) 68 022

Actual cost/km

Wear and tear (260000/7)x245/366 24 863
Finance charges (88 000/5)x245/365) 11 814
Insurance premiums 8 200
Fuel costs 9 500
Total cost 54 377

Total cost/km (59 240/9800) 5.549

Total actual cost(rate x bus km) 46 609




Tax 3702 Oct/Nov 2014

Document information

Uploaded on
January 9, 2020
Number of pages
10
Written in
2019/2020
Type
Summary
Report Copyright Violation
$4.98
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
LILSAINT
3.8
(100)
Sold
441
Followers
355
Items
267
Last sold
1 month ago
Available in package deal
Product Image
Package deal
TAX3702 ALL EXAMS AND ANSWERS FOR YOU TO GET A DISTINCTION
-
17
Sold
33
item
Jan 2020
$139.96
$3.11
You save 98% More Info

Reviews from verified buyers

Reviewer avatar
lucashlongoana Economics and management science · 28 reviews
6 year ago

Browse related subjects

Subjects

  • tax3702

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions