Taxation (ACCT341)

Assessed losses & other allowances Summaries for principles of S24, S20 & S20A

In depth summary of the tax framework for natural persons. Information is colour coordinated and displayed in the form expected in the exam (the tax framework) with information under each line item for easy understanding. Covers information regarding the calculation of rebates and S11F deductions among others.

In depth summary on the estate duty framework and introduction to estate planning. Notes are colour coordinated and valuation sections are grouped with the corresponding property type and described in simple terms, so as to make sense of this relatively daunting topic.

Summary of the key details regarding the types of fringe benefits and how to value them, with reference to the 7th schedule of the income tax act, in simple language.

Summary of the treatment and calculation of allowances and deductions as set out in S8 of the income tax act.

Summary of how to treat retirement lump sums, retirement lump sum withdrawal benefits and several benefits in the tax framework, as well as their reductions. Set out in an understandable manner.

Summary of the key principles regarding general deductions, with reference to S11(a) and S23(g) of the income tax act as well as case law principles.

High-level summary on the breakdown of the gross income definition that covers the first 4 weeks of lectures, with reference to income tax act and case law principles regarding what constitutes an amount, cash or otherwise, received, accrued, a resident, the source of income, and amounts of a capital nature. Notes are colour coordinated and easy to understand.