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TAX1501 ASSIGNMENT 5 FOR 2ND SEMESTER 2024

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2024/2025 Written for academic year
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TAX1501 ASSIGNMENT 5
FOR 2ND SEMESTER 2024




FEND
TUTORIALS

,Question 1
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For the purposes of calculating the retirement fund deduction, contributions to a retirement fund
include:


a.
Pension, provident and/or retirement annuity funds.

b.
Pension funds only.

c.
Provident funds only.

d.
Retirement annuity funds only.
Question 2
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Evan Geurini is 32 years old and work for a telecommunication company. He earns a salary of R38
900 per month and has been working for the company for four months. His employer contributed R4
500 to a medical aid fund and R3 750 to a provident fund in total for the four months on Evan behalf.
YOU ARE REQUIRED to calculate Evan's total fringe benefit for the current year of assessment
based on the information provided.

, a.
R33 000

b.
R163 850

c.
R8 250

d.
R18 000


Question 3
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Amanda is 32 years old and during the current year of assessment she had the following income and
expenses:

* Income Salary of R220 000
* Bonus of R66 000

EXPENSES:
* Retirement annuity fund contributions of R11 000
* Pension fund contributions of R11 000

You may assume that her remuneration for the year is R242 000. YOU ARE REQUIRED to
calculate the retirement fund contribution deduction which she will be allowed to deduct from her
taxable income for the current year of assessment.


a.
R22 000

b.
R66 550

c.
R78 650

d.
R11 000
Question 4

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