TAX2601 questions and
answers 2024
,
, Which one of the following would be included in the calculation of
qualifying turnover in deter- mining whether a business qualifies to
register as a micro business?
(1) Total receipts from sales of trading stock.
(2) Total debtors at the date of registration.
(3) Total receipts from the sale of the factory building used for the
business.
(4) Total receipts from certain Government grants and Government
scrapping payments.
QUESTION 24
Which one of the following statements does not apply to trusts?
(1) A trust is a separate legal entity and therefore a separate taxpayer.
(2) A trust is taxed at a fixed rate of 45%.
(3) Profits earned can be held in the trust or distributed to
beneficiaries.
(4) The distribution amount depends on the beneficiaries of the trust.
QUESTION 25
What is the method used by SARS to collect tax due to them from
salaried taxpayers?
(1) Capital gains tax
(2) Employees tax
(3) Turnover tax
(4) Dividends tax
The following information relates to questions 26 to 29 (round off all
your calculations to the nearest rand):
17
answers 2024
,
, Which one of the following would be included in the calculation of
qualifying turnover in deter- mining whether a business qualifies to
register as a micro business?
(1) Total receipts from sales of trading stock.
(2) Total debtors at the date of registration.
(3) Total receipts from the sale of the factory building used for the
business.
(4) Total receipts from certain Government grants and Government
scrapping payments.
QUESTION 24
Which one of the following statements does not apply to trusts?
(1) A trust is a separate legal entity and therefore a separate taxpayer.
(2) A trust is taxed at a fixed rate of 45%.
(3) Profits earned can be held in the trust or distributed to
beneficiaries.
(4) The distribution amount depends on the beneficiaries of the trust.
QUESTION 25
What is the method used by SARS to collect tax due to them from
salaried taxpayers?
(1) Capital gains tax
(2) Employees tax
(3) Turnover tax
(4) Dividends tax
The following information relates to questions 26 to 29 (round off all
your calculations to the nearest rand):
17
