TAX1501
Semester 2
This tutorial letter contains Assignment 2.
TUTORING FOR FAC,MAC,ECS,STA,DSC,TAX,
Due date: 25 September 2025 FIN ,INV,.QMI, BNU,MNG,MNB,BSM, CLA
Unique assignment number: 687727 whatsapp me on+27737560989
EMAIL:
FOR FAC,MAC,ECS,STA,DSC, TAX, FIN
JINV,QMI, BNU,MNG,MNB,BSM, CLA
whatsapp me on+27737560989
EMAIL:
, PART A: Calculation of Normal Tax Payable for the 2025 Year of Assessment
Description Calculation Amount (R)
Gross Income
Salary 1,800,000
Bonus 180,000
Overtime payment 26,000
Income from skincare sales 140,000
Local dividends 23,800
Local interest 500,000
Foreign interest 36,000
Rental income 56,000
Total Gross Income 2,761,800
Less: Exempt Income
Local dividends (s10(1)(k)) R23,800 -23,800
Local interest (s10(1)(i)) R34,500 (Age 65+) -34,500
Total Exempt Income -58,300
Income 2,703,500
Less: Deductions & Expenses
Repairs and maintenance (rental) R4,000 -4,000
Cost of sales (skincare) R42,000 -42,000
Total Deductions -46,000
Taxable Income before Retirement 2,657,500
Semester 2
This tutorial letter contains Assignment 2.
TUTORING FOR FAC,MAC,ECS,STA,DSC,TAX,
Due date: 25 September 2025 FIN ,INV,.QMI, BNU,MNG,MNB,BSM, CLA
Unique assignment number: 687727 whatsapp me on+27737560989
EMAIL:
FOR FAC,MAC,ECS,STA,DSC, TAX, FIN
JINV,QMI, BNU,MNG,MNB,BSM, CLA
whatsapp me on+27737560989
EMAIL:
, PART A: Calculation of Normal Tax Payable for the 2025 Year of Assessment
Description Calculation Amount (R)
Gross Income
Salary 1,800,000
Bonus 180,000
Overtime payment 26,000
Income from skincare sales 140,000
Local dividends 23,800
Local interest 500,000
Foreign interest 36,000
Rental income 56,000
Total Gross Income 2,761,800
Less: Exempt Income
Local dividends (s10(1)(k)) R23,800 -23,800
Local interest (s10(1)(i)) R34,500 (Age 65+) -34,500
Total Exempt Income -58,300
Income 2,703,500
Less: Deductions & Expenses
Repairs and maintenance (rental) R4,000 -4,000
Cost of sales (skincare) R42,000 -42,000
Total Deductions -46,000
Taxable Income before Retirement 2,657,500
