CTAX12U_TL202_3_2023_Semester 1 complete.

Tutorial letter 202/1/2023 Taxation of Individuals CTAX12U Semester 1 CENTRE FOR ACCOUNTING STUDIES  UNISA 2023 Dear Student Enclosed is the solution to Assignment 02/2023. Please work through the solution alongside the assignments and your answers. This is a significant part of the learning process. Note that it is very important to understand why a specific answer is correct while other options are not. You should identify any problem areas early in the semester and make every effort to understand all aspects of the work that you have studied. We hope that you have found the assignments stimulating. Kind regards, QUESTION 1 (40 marks) Calculation of Walter’s net tax liability for the year of assessment ended 28 February 2018 R R Salary 600 000 Housing (A - B) x C/100 x D/12 (R550 000 – R75 750 (1)) x 18/100 (1) x 8/12 (1) mths 56 910 Use of a company car: R220 000 x 1.14(1) x 85%(1) x 3.5% (1) x 3(1) = R22 384 22 384 Travel allowance 100 000 Less: Travel expenses ..........................................continued................................................