TAX3702 Taxation of Individuals
University of South Africa
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TAX3702 Assignment 03 2021
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---7december 20212021/2022A+
- Course Code: TAX 3702 
Assignment No: 03 
Closing Date: 16 August 2021 
______________________________________________________________________________ 
Question 1 
For an amount to be included in gross income, it must satisfy all the requirements 
of the general definition of “gross income”. That is: 
 the total amount in cash or otherwise 
 received by or accrued to 
 during the year of assessment 
 not of capital nature. 
Or, alternatively, the amount may also be included in ta...
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Sensational
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Samenvatting
TAX3702 - Notes Pack 2021.
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---296november 20212021/2022
- CHAPTER 1A 
INTRODUCTION TO THE TAXATION OF INDIVIDUALS – 
CALCULATION OF TAXABLE INCOME 
Table of Contents 
1. STRUCTURE AND DISCUSSION OF THE INCOME TAXATION CALCULATION .................................................................................... 2 
2. GROSS INCOME ............................................................................................................................................................................... 3 
2.1 AMOUNTS OF REMUNERATION RECEIVED FROM A...
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LOVELY01
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Tentamen (uitwerkingen)
TAX3702 Assignment 03 2021.
-
---7november 20212021/2022A+
- Course Code: TAX 3702 
Assignment No: 03 
Closing Date: 16 August 2021 
______________________________________________________________________________ 
Question 1 
For an amount to be included in gross income, it must satisfy all the requirements 
of the general definition of “gross income”. That is: 
 the total amount in cash or otherwise 
 received by or accrued to 
 during the year of assessment 
 not of capital nature. 
Or, alternatively, the amount may also be included in ta...
-
$3.99 Meer Info
LOVELY01
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Tentamen (uitwerkingen)
TAX3702 Assignment Unique Number: 702907
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---11november 20212021/2022A+
- 1. 2 
A rebate (or tax credit) reduces the normal tax owing to SARS. In other words, rebates 
do not reduce the taxable income, but will reduce the tax calculated per the relevant tax 
rate. It therefore works in the same way as the annual rebates. rebates and tax credits 
are not considered in the calculation of taxable income 
2. 4 
Employee Tax is not considered in the calculation of Taxable Income
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ExellentStudyResources
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Tentamen (uitwerkingen)
TAX3702 - Notes Pack.
-
---296november 20212021/2022A+
- CHAPTER 1A 
INTRODUCTION TO THE TAXATION OF INDIVIDUALS – 
CALCULATION OF TAXABLE INCOME 
Table of Contents 
1. STRUCTURE AND DISCUSSION OF THE INCOME TAXATION CALCULATION .................................................................................... 2 
2. GROSS INCOME ............................................................................................................................................................................... 3 
2.1 AMOUNTS OF REMUNERATION RECEIVED FROM A...
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$4.49 Meer Info
ExellentStudyResources
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Tentamen (uitwerkingen)
TAX3702 LATEST REVISION PACK-EXAM
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---17november 20212021/2022A+
- TAX 3702 
TAXATION OF INDIVIDUALS 
SIMULATED EXAM 
Question Subject Marks Minutes 
1 Net normal tax and retirement benefits 38 68 
2 Capital gains tax 14 25 
3 Employees’ tax 20 36 
4 Donations tax and estate duty 18 32 
5 General deduction formula 10 18 
TOTAL 100 180 
TAX3702 LATEST REVISION PACK-EXAM 
2 TAX3702 
Simulated exam 
[TURN OVER] 
QUESTION 1 (38 marks, 68 minutes) 
ZA Apparel (Pty) Ltd, a South African clothing manufacturer, employed Richard (56 years old) as a 
regional sales man...
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ExellentStudyResources
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Tentamen (uitwerkingen)
TAX3702 Assignment 03 2021.
-
---7november 20212021/2022A+
- Course Code: TAX 3702 
Assignment No: 03 
Closing Date: 16 August 2021 
______________________________________________________________________________ 
Question 1 
For an amount to be included in gross income, it must satisfy all the requirements 
of the general definition of “gross income”. That is: 
 the total amount in cash or otherwise 
 received by or accrued to 
 during the year of assessment 
 not of capital nature. 
Or, alternatively, the amount may also be included in ta...
-
$4.49 Meer Info
ExellentStudyResources
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Tentamen (uitwerkingen)
TAX3702 Assignment 5
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---7november 20212021/2022A+
- This document is for comparison and 
research purposes only. 
No part of this document can be submitted 
as personal work or duplicated without 
written permission from author 
This study source was downloaded by from CourseH on 11-15-2021 19:24:22 GMT -06:00 

This study resource was 
shared via CourseH 
 
 3 
Question 1 A 
Salary 
Commission 83500 
Accumulated Leave pay 20000 
Entertainment Allowance 7500 
Actual business expenses -7800 0 
Commision received 83500 
Employer Providend Fund Co...
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ExellentStudyResources
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TAX 3702 EXAM PACK
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---18november 20212021/2022A+
- EXAM PAST 
PAPER 
SOLUTIONS 2015 
& JUNE 2014 
Suggested Solutions 
Written by Tafadzwa Class of 2016 
Together We Pass 
© 2016Together We Pass. All rights reserved. 
OCTOBER 2015 
QN 1 
Salary 
Employer Vehicle- 5766 
Protective clothing __ 
Long service Award tax free up to 
R5000(6000-5000) 1000 
Building Material(25000-20000) 5000 
Motorbike-Not remuneration _ 
Foreign dividends ( 25/40) 
Exempt(3200-2000) 1200 
Local Interest-Exempt 23800 ; (25800- 
23800) 2000 
Foreign interest 1056 
 
L...
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ExellentStudyResources