9/27/23, 7:59 PM Assessment 4: Attempt review
UNISA 2023 TAX2601-23-S2 Assessment 4
QUIZ
Started on Wednesday, 27
September 2023, 4:49
PM
State Finished
Completed on Wednesday, 27
September 2023, 6:58
PM
Time taken 2 hour 9 mins
Marks 35.00/35.00
Grade 100.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
The actual taxable income of Bhekisizwe
(Pty) Ltd for the year of assessment
ended 31 March 2023 is R2 670 000. On
30 September 2022, the company paid a
provisional income tax payment of R395
000 and another provisional income tax
payment of R376 000 on 31 March 2023.
How much income tax is due to SARS in
respect of the 2023 year of assessment,
assuming Bhekisizwe (Pty) Ltd is not a
small business corporation?
a. R720 900 payable to SARS
b. R50 100 refundable from SARS
c. R23 400 refundable from SARS
d. R50 100 payable to SARS
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 1/17
,9/27/23, 7:59 PM Assessment 4: Attempt review
Question 2
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd purchased a
trademark called Nix on 1 November
2022 and a patent called Tix on 1
December 2022. The trademark cost was
R700 000 and the cost of the patent was
R650 000. Calculate the deduction or
allowance available to Ngwenya (Pty) Ltd
for the year of assessment ending 28
February 2023.
a. Trademark R0 Patent R8 125
b. Trademark R0 Patent R32 500
c. Trademark R35 000 Patent R32
500
d. Trademark R11 667 Patent R8
125
Question 3
Complete
Mark 1.00 out of 1.00
On 31 August 2022, Ubuntu (Pty) Ltd
purchased a second-hand manufacturing
building from MKM (Pty) Ltd for R6 600
000. MKM (Pty) Ltd claimed an allowance
on the building when it originally
purchased the building new for a cost
price of R4 100 000 on 1 March 2020.
Ubuntu (Pty) Ltd will primarily use the
building in an approved manufacturing
process. Calculate the capital allowance
available to Ubuntu (Pty) Ltd on the
building for the 2023 year of assessment
ending 28 February 2023. Assume
Ubuntu (Pty) Ltd is not a Small Business
Corporation, as de ned in the Act.
a. R330 000
b. R82 000
c. R205 000
d. R132 000
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 2/17
,9/27/23, 7:59 PM Assessment 4: Attempt review
Question 4
Complete
Mark 1.00 out of 1.00
Ubuntu (Pty) Ltd owns an o ce building
from which it earns rental income. The
CEO did not like the colour of the new
roof tiles that were installed in the prior
year of assessment at a cost of R170
000. The company replaced it with new
roof tiles that are differently coloured on
1 April 2022 at a cost of R400 000, in
order to improve the appearance of this
property. Determine the amount that
Ubuntu (Pty) Ltd can deduct as repairs in
calculating the taxable income for the
2023 year of assessment ending 28
February.
a. R20 000
b. R400 000
c. R Nil
d. R170 000
Question 5
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd has a gardening
maintenance contract with Green Fingers
CC to maintain its corporate
headquarters yard. The terms of the
contract are that the contract is paid in
advance on an annual basis. Ngwenya
(Pty) Ltd made the payment of R160 000
on 1 January 2023 to cover the period 01
January to 31 December 2023. Determine
the amount that is deductible by
Ngwenya (Pty) Ltd for its year of
assessment ending 28 February 2023.
Assume this is the only prepayment that
was made by Ngwenya (Pty) Ltd for the
2023 year of assessment.
a. R160 000
b. R26 667
c. R nil
d. R133 333
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 3/17
, 9/27/23, 7:59 PM Assessment 4: Attempt review
Question 6
Complete
Mark 1.00 out of 1.00
Bhekisizwe (Pty) Ltd is a company that
specialises in the production of custom
made mountain bikes. Bhekisizwe (Pty)
Ltd is a micro business and quali es for
all of the advantages of turnover tax. The
company has a year end of 28 February
2023. The actual taxable turnover was
calculated as R900 000. Assume the rst
interim payment was R1 200 and the
second interim payment was R2 000.
What is the nal tax liability of Bhekisizwe
(Pty) Ltd for the 2023 year of
assessment?
a. R3 200
b. R11 150
c. R898 600
d. R7 950
Question 7
Complete
Mark 0.00 out of 1.00
Ngwenya (Pty) Ltd made a restraint of
trade payment of R1 600 000 to a retiring
director, Mr Msomi, on 1 September
2022. Mr Msomi was restrained from
competing with the company for four
years from the date of the payment. This
payment will be included in Mr Msomi's
gross income for his 2023 year of
assessment. Calculate how much will be
deductible by Ngwenya (Pty) Ltd for the
year of assessment ending 28 February
2023.
a. R400 000
b. R200 000
c. R533 333
d. R266 667
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 4/17
UNISA 2023 TAX2601-23-S2 Assessment 4
QUIZ
Started on Wednesday, 27
September 2023, 4:49
PM
State Finished
Completed on Wednesday, 27
September 2023, 6:58
PM
Time taken 2 hour 9 mins
Marks 35.00/35.00
Grade 100.00 out of 100.00
Question 1
Complete
Mark 1.00 out of 1.00
The actual taxable income of Bhekisizwe
(Pty) Ltd for the year of assessment
ended 31 March 2023 is R2 670 000. On
30 September 2022, the company paid a
provisional income tax payment of R395
000 and another provisional income tax
payment of R376 000 on 31 March 2023.
How much income tax is due to SARS in
respect of the 2023 year of assessment,
assuming Bhekisizwe (Pty) Ltd is not a
small business corporation?
a. R720 900 payable to SARS
b. R50 100 refundable from SARS
c. R23 400 refundable from SARS
d. R50 100 payable to SARS
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 1/17
,9/27/23, 7:59 PM Assessment 4: Attempt review
Question 2
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd purchased a
trademark called Nix on 1 November
2022 and a patent called Tix on 1
December 2022. The trademark cost was
R700 000 and the cost of the patent was
R650 000. Calculate the deduction or
allowance available to Ngwenya (Pty) Ltd
for the year of assessment ending 28
February 2023.
a. Trademark R0 Patent R8 125
b. Trademark R0 Patent R32 500
c. Trademark R35 000 Patent R32
500
d. Trademark R11 667 Patent R8
125
Question 3
Complete
Mark 1.00 out of 1.00
On 31 August 2022, Ubuntu (Pty) Ltd
purchased a second-hand manufacturing
building from MKM (Pty) Ltd for R6 600
000. MKM (Pty) Ltd claimed an allowance
on the building when it originally
purchased the building new for a cost
price of R4 100 000 on 1 March 2020.
Ubuntu (Pty) Ltd will primarily use the
building in an approved manufacturing
process. Calculate the capital allowance
available to Ubuntu (Pty) Ltd on the
building for the 2023 year of assessment
ending 28 February 2023. Assume
Ubuntu (Pty) Ltd is not a Small Business
Corporation, as de ned in the Act.
a. R330 000
b. R82 000
c. R205 000
d. R132 000
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 2/17
,9/27/23, 7:59 PM Assessment 4: Attempt review
Question 4
Complete
Mark 1.00 out of 1.00
Ubuntu (Pty) Ltd owns an o ce building
from which it earns rental income. The
CEO did not like the colour of the new
roof tiles that were installed in the prior
year of assessment at a cost of R170
000. The company replaced it with new
roof tiles that are differently coloured on
1 April 2022 at a cost of R400 000, in
order to improve the appearance of this
property. Determine the amount that
Ubuntu (Pty) Ltd can deduct as repairs in
calculating the taxable income for the
2023 year of assessment ending 28
February.
a. R20 000
b. R400 000
c. R Nil
d. R170 000
Question 5
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd has a gardening
maintenance contract with Green Fingers
CC to maintain its corporate
headquarters yard. The terms of the
contract are that the contract is paid in
advance on an annual basis. Ngwenya
(Pty) Ltd made the payment of R160 000
on 1 January 2023 to cover the period 01
January to 31 December 2023. Determine
the amount that is deductible by
Ngwenya (Pty) Ltd for its year of
assessment ending 28 February 2023.
Assume this is the only prepayment that
was made by Ngwenya (Pty) Ltd for the
2023 year of assessment.
a. R160 000
b. R26 667
c. R nil
d. R133 333
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 3/17
, 9/27/23, 7:59 PM Assessment 4: Attempt review
Question 6
Complete
Mark 1.00 out of 1.00
Bhekisizwe (Pty) Ltd is a company that
specialises in the production of custom
made mountain bikes. Bhekisizwe (Pty)
Ltd is a micro business and quali es for
all of the advantages of turnover tax. The
company has a year end of 28 February
2023. The actual taxable turnover was
calculated as R900 000. Assume the rst
interim payment was R1 200 and the
second interim payment was R2 000.
What is the nal tax liability of Bhekisizwe
(Pty) Ltd for the 2023 year of
assessment?
a. R3 200
b. R11 150
c. R898 600
d. R7 950
Question 7
Complete
Mark 0.00 out of 1.00
Ngwenya (Pty) Ltd made a restraint of
trade payment of R1 600 000 to a retiring
director, Mr Msomi, on 1 September
2022. Mr Msomi was restrained from
competing with the company for four
years from the date of the payment. This
payment will be included in Mr Msomi's
gross income for his 2023 year of
assessment. Calculate how much will be
deductible by Ngwenya (Pty) Ltd for the
year of assessment ending 28 February
2023.
a. R400 000
b. R200 000
c. R533 333
d. R266 667
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=13757738&cmid=626557 4/17
