TAX2601 ASSIGNMENT 3 SEMESTER 2 - 2023

TAX2601 ASSIGNMENT 3 SEMESTER 2 - 2023 CLOSING DATE: 04 SEPTEMBER 2023 QUESTION 1 PART A REQUIRED: Calculate the normal tax liability of Health Harmony (Pty) Ltd for the 2023 year of assessment. Provide reasons for your answer in respect of the marketing expense as well as for all amounts that are not taxable and/or not deductible. PART B REQUIRED: Calculate the first provisional tax payment of Health Harmony (Pty) Ltd for the 2024 year of assessment and provide the date by which it must be paid in order to avoid interest and penalties. QUESTION 2 REQUIRED: Discuss and conclude whether the expenditure of R80 000 is deductible by Bella Italia (Pty) Ltd in terms of the general deduction formula (s11(a) read with s23) for the year of assessment ending 28 February 2023.