TAX1501/201/1/2020
Tutorial letter 201/1/2020
Taxation of Salaried Persons
TAX1501
Semester 1
Taxation Department
Self-assessment assignment 3
Solution – assignment 3
, 2 TAX1501/201/1
Dear Student
Enclosed please find self-assessment assignment 3, as well as the solution to assignment 3/2020.
Please work through the solution in conjunction with the assignment and your answers. This is a
significant part of the learning process. It is important to understand why marks were allocated
to specific parts of your solutions.
You should identify any problem areas early in the semester and make every effort to understand
all aspects of the work that you have covered.
We hope that you have found the assignment and questions stimulating.
PLEASE NOTE: The schedules that are contained at the end of the assignment in this tutorial
letter (assignment 3), are the schedules that will also be included in the exam paper that you will
be writing during May 2020.
Kind regards
LECTURERS: TAX1501
The lecturers who are available to
assist you are:
Mrs R Moosa 012 429 2883
Ms R Ramfor 012 429 8976
The course cell phone number is 079 365 1124
ANNEXURE A: SELF-ASSESSMENT ASSIGNMENT 3/2020
ANNEXURE B: SOLUTION TO ASSIGNMENT 3/2020
, 3 TAX1501/201/1
ANNEXURE A:
SELF-ASSESSMENT ASSIGNMENT 3: FIRST SEMESTER
This is a self-assessment assignment.
These are the instructions that will also appear on your examination paper. Read them
now and make sure that you understand what we require from you. We also suggest
that you try to do this assignment like a proper examination, under examination condi-
tions, to see how much you know and what you need to spend time on.
THIS PAPER CONSISTS OF (X) PAGES PLUS ANNEXURES (XXX)
IMPORTANT INSTRUCTIONS:
1. All amounts exclude VAT unless stated otherwise.
2. All persons mentioned are residents of the Republic unless stated otherwise.
3. SARS = South African Revenue Service.
4. "Republic" refers to the Republic of South Africa.
Regarding the answering of this paper:
1. This paper consists of four (4) questions.
2. All questions must be answered.
3. Start each question on a new (separate) page.
4. All workings, where applicable, must be shown. If an amount is subject to a limitation, clearly
indicate the application of the limitation. If any item is exempt from tax or not allowable as a
deduction, it must be indicated and a brief reason given for its exemption on non-deducti-
bility. All amounts must be rounded off to the nearest rand.
5. Please complete the cover page of the answer book in full.
6. You are reminded that answers may NOT be written in pencil.
7. Proposed timetable (try not to deviate from this timetable):
QUESTION TOPIC MARKS MINUTES
1 Value-Added Tax (VAT) 25 30
2 Net normal tax liability 30 36
3 Fringe benefits and Travel Allowance 25 30
4 Gross Income and Capital Gains Tax 20 24
Total 100 120
Tutorial letter 201/1/2020
Taxation of Salaried Persons
TAX1501
Semester 1
Taxation Department
Self-assessment assignment 3
Solution – assignment 3
, 2 TAX1501/201/1
Dear Student
Enclosed please find self-assessment assignment 3, as well as the solution to assignment 3/2020.
Please work through the solution in conjunction with the assignment and your answers. This is a
significant part of the learning process. It is important to understand why marks were allocated
to specific parts of your solutions.
You should identify any problem areas early in the semester and make every effort to understand
all aspects of the work that you have covered.
We hope that you have found the assignment and questions stimulating.
PLEASE NOTE: The schedules that are contained at the end of the assignment in this tutorial
letter (assignment 3), are the schedules that will also be included in the exam paper that you will
be writing during May 2020.
Kind regards
LECTURERS: TAX1501
The lecturers who are available to
assist you are:
Mrs R Moosa 012 429 2883
Ms R Ramfor 012 429 8976
The course cell phone number is 079 365 1124
ANNEXURE A: SELF-ASSESSMENT ASSIGNMENT 3/2020
ANNEXURE B: SOLUTION TO ASSIGNMENT 3/2020
, 3 TAX1501/201/1
ANNEXURE A:
SELF-ASSESSMENT ASSIGNMENT 3: FIRST SEMESTER
This is a self-assessment assignment.
These are the instructions that will also appear on your examination paper. Read them
now and make sure that you understand what we require from you. We also suggest
that you try to do this assignment like a proper examination, under examination condi-
tions, to see how much you know and what you need to spend time on.
THIS PAPER CONSISTS OF (X) PAGES PLUS ANNEXURES (XXX)
IMPORTANT INSTRUCTIONS:
1. All amounts exclude VAT unless stated otherwise.
2. All persons mentioned are residents of the Republic unless stated otherwise.
3. SARS = South African Revenue Service.
4. "Republic" refers to the Republic of South Africa.
Regarding the answering of this paper:
1. This paper consists of four (4) questions.
2. All questions must be answered.
3. Start each question on a new (separate) page.
4. All workings, where applicable, must be shown. If an amount is subject to a limitation, clearly
indicate the application of the limitation. If any item is exempt from tax or not allowable as a
deduction, it must be indicated and a brief reason given for its exemption on non-deducti-
bility. All amounts must be rounded off to the nearest rand.
5. Please complete the cover page of the answer book in full.
6. You are reminded that answers may NOT be written in pencil.
7. Proposed timetable (try not to deviate from this timetable):
QUESTION TOPIC MARKS MINUTES
1 Value-Added Tax (VAT) 25 30
2 Net normal tax liability 30 36
3 Fringe benefits and Travel Allowance 25 30
4 Gross Income and Capital Gains Tax 20 24
Total 100 120
