TAX2601 EXAM PACK EXAM TIPS, SOLUTIONS AND EXPLAINED NOTES|Latest Update Complete and A+ Graded |2026 VersionStudocu is not sponsored or endorsed by any college or university TAX2601 EXAM PACK TAX2601 EXAM PACK EXAM TIPS, SOLUTIONS AND EXPLA

Studocu is not sponsored or endorsed by any college or university TAX2601 EXAM PACK TAX2601 EXAM PACK EXAM TIPS, SOLUTIONS AND EXPLAINED NOTES TABLE OF CONTENTS • NOVEMBER 2017 • MAY/ JUNE 2017 • NOVEMBER 2016 • MAY/JUNE 2016 • MAY/JUNE 2015 • NOVEMBER 2015 • MAY/JUNE 2014 • NOVEMBER 2014 • MAY/JUNE 2013 • NOVEMBER 2013 OCTOBER/NOVEMBER 2017 (Q1) SMILEY (PTY) LTD Calculation of taxable income for the year of assessment ending 31 March 2017 R -Cash sales 375 000 -Credit sales 4 600 000 -Purchases of inventory 2 940 000 -Local dividends (exempt) nil -Opening inventory (880 000) -Closing inventory 620 000 -Salaries and wages (480 000) -Pension fund contributions (48 000) -Wear and tear: manufacturing machine AB (section 12E, deducted in full) (325 000) -Delivery vehicle (section 12E, 30% x 70 000) no apportionment (21 000) -Manufacturing building (section 13(1) erected after 1 January 1989, 5% is used, 5% x 1 700 000) (85 000) -manufacturing machine BC, claimed in full in 2014 year of assessment (section 12E) nil -Recoupment on manufacturing machine BC