TAX2601
Assignment 2 QUIZ Semester 12025
Unique Number:
Due Date: 2025
DISCLAIMER & TERMS OF USE
Educational Aid: These study notes are intended to be used as educational resources and should not be seen as a
replacement for individual research, critical analysis, or professional consultation. Students are encouraged to perform
their own research and seek advice from their instructors or academic advisors for specific assignment guidelines.
Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the information in
these study notes, the seller does not guarantee the completeness or correctness of all content. The buyer is
responsible for verifying the accuracy of the information and exercising their own judgment when applying it to their
assignments.
Academic Integrity: It is essential for students to maintain academic integrity and follow their institution's policies
regarding plagiarism, citation, and referencing. These study notes should be used as learning tools and sources of
inspiration. Any direct reproduction of the content without proper citation and acknowledgment may be considered
academic misconduct.
Limited Liability: The seller shall not be liable for any direct or indirect damages, losses, or consequences arising from
the use of these notes. This includes, but is not limited to, poor academic performance, penalties, or any other negative
consequences resulting from the application or misuse of the information provided.
, QUIZ 2025 UNISA TAX2601-25-S1 Assessment 2
Started on Sunday, 27 April 2025, 7:44 AM
State Finished
Completed on Sunday, 27 April 2025, 9:14 AM
Time taken 1 hour 30 mins
Grade 37.00 out of 40.00 (92.5%)
Question 1
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd made a restraint of trade payment of R1 800 000 to a retiring director, Mr Msomi, on 1 September 2024.
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 2025 year of assessment. Calculate how much will be deductible by
Ngwenya (Pty) Ltd for the year of assessment ending 28 February 2025.
a. R300 000
b. R450 000
c. R225 000
d. R600 000
Question 2
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd manufactures vehicles. During the year of assessment the company incurred the following costs to
manufacture one vehicle:
-Production costs = R2 900 000
-Testing costs to get the vehicle roadworthy = R93 000
-Delivery truck traffic fine - worn-out windshield wipers = R1 700
-Transportation costs to the warehouse = R27 000
What is the cost of this trading stock item for valuation purposes?
a. R2 927 000
b. R3 021 700
c. R3 020 000
d. R2 993 000
Assignment 2 QUIZ Semester 12025
Unique Number:
Due Date: 2025
DISCLAIMER & TERMS OF USE
Educational Aid: These study notes are intended to be used as educational resources and should not be seen as a
replacement for individual research, critical analysis, or professional consultation. Students are encouraged to perform
their own research and seek advice from their instructors or academic advisors for specific assignment guidelines.
Personal Responsibility: While every effort has been made to ensure the accuracy and reliability of the information in
these study notes, the seller does not guarantee the completeness or correctness of all content. The buyer is
responsible for verifying the accuracy of the information and exercising their own judgment when applying it to their
assignments.
Academic Integrity: It is essential for students to maintain academic integrity and follow their institution's policies
regarding plagiarism, citation, and referencing. These study notes should be used as learning tools and sources of
inspiration. Any direct reproduction of the content without proper citation and acknowledgment may be considered
academic misconduct.
Limited Liability: The seller shall not be liable for any direct or indirect damages, losses, or consequences arising from
the use of these notes. This includes, but is not limited to, poor academic performance, penalties, or any other negative
consequences resulting from the application or misuse of the information provided.
, QUIZ 2025 UNISA TAX2601-25-S1 Assessment 2
Started on Sunday, 27 April 2025, 7:44 AM
State Finished
Completed on Sunday, 27 April 2025, 9:14 AM
Time taken 1 hour 30 mins
Grade 37.00 out of 40.00 (92.5%)
Question 1
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd made a restraint of trade payment of R1 800 000 to a retiring director, Mr Msomi, on 1 September 2024.
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 2025 year of assessment. Calculate how much will be deductible by
Ngwenya (Pty) Ltd for the year of assessment ending 28 February 2025.
a. R300 000
b. R450 000
c. R225 000
d. R600 000
Question 2
Complete
Mark 1.00 out of 1.00
Ngwenya (Pty) Ltd manufactures vehicles. During the year of assessment the company incurred the following costs to
manufacture one vehicle:
-Production costs = R2 900 000
-Testing costs to get the vehicle roadworthy = R93 000
-Delivery truck traffic fine - worn-out windshield wipers = R1 700
-Transportation costs to the warehouse = R27 000
What is the cost of this trading stock item for valuation purposes?
a. R2 927 000
b. R3 021 700
c. R3 020 000
d. R2 993 000
