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Tax1501 Assignment 1 Semester 2 2024 Due date 05 September 2024 ( complete questions and answers ) distinction guaranteed

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Tax1501 Assignment 1 Semester 2 2024 Due date 05 September 2024 ( complete questions and answers ) distinction guaranteed

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Uploaded on
August 21, 2024
Number of pages
48
Written in
2024/2025
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TAX 1501
ASSIGNMENT 1 SEMESTER 2 2024
DUE DATE 05 SEPTEMBER 2024
UNIQUE NO: 633761



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EXPECTVIEW TUTORS EXPECTVIEW TUTORS




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,Nomsa Pole is 67 years old and unmarried. She has a disability as defined. She is currently living with her
adult son who is 24 years old. Her taxable income for the current year of assessment was R454 000. She
contributed R14 000 to the medical aid fund and her employer contributed the same amount as her towards
her medical aid fund. She paid additional qualifying medical expenses not covered by the medical aid fund of
R31 000 towards nurses assisting her at home. YOU ARE REQUIRED to calculate the additional medical
expense tax credit for the current year of assessment.

Select one:
a. R1 870
b. R4 368
c. R15 283
d. R45 896

, Choose an example of amounts an individual may not include in his or her taxable income.


a. Losses from a business or trade
b. Overtime pay
c. Proceeds from sale of a car
d. Profits from a business or trade

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