TAX2601 EXAM ANSWERS WRITTEN 26 MAY 2026 COMPLETE ANSWERS DISTINCTION GUARANTEED

TAX2601 EXAM


Part A: Multiple Choice Questions
1. a) Dividends tax

2. a) A company is a separate legal entity and is a separate taxpayer from its shareholders.

3. a) A partnership is a separate legal entity and is a separate taxpayer.

4. d) The gross income for the year of assessment does not exceed R20 million.

5. a) Peace (Pty) Ltd is a shareholder.

6. c) R13 342

7. b) R12 523

8. c) R955 000

9. c) R666 667

10. c) R1 450




PART B


a) First provisional tax payment
Date of payment: 30 September 2025

Year of assessment Reason
2024 Used as the basic amount because it is the
latest year assessed more than 12 months
before the end of the 2026 year of
assessment.
2025 Not used because it was assessed within 12
months of the end of the 2026 year of
assessment.
2026 Not applicable for the first provisional
payment as the basic amount is used.

, Calculation:

Taxable income (2024): R1 045 600

Tax @ 27%: R282 312

First provisional tax payment (50%): R141 156


b) Second provisional tax payment
Date of payment: 31 March 2026

Year of assessment Reason
2024 Not appropriate as it is outdated for the
second provisional tax calculation.
2025 Could be used, but not ideal since a more
accurate estimate (2026) is available.
2026 Used because the estimated taxable income
ensures compliance and avoids penalties
and interest.

Calculation:

Estimated taxable income (2026): R1 587 540

Tax @ 27%: R428 636

Less: First provisional payment: (R141 156)

Second provisional tax payment: R287 480