Questions on SA Tax is a publication for students and incorporates the legislation up to and including the Rates and Monetary Amounts and Amendment to Revenue Laws Act, 2012; the Taxation Laws Amendment Bill, 2012 (where applicable to the year of assessment); and the Tax Administration Laws Amendment Bill, 2012 (where applicable to the year of assessment).  Most scenarios have been based on the 2013 year of assessment.  Where significant change has been promulgated for the 2014 year of assessment, selected questions present suggested solutions to such scenarios.  As the tax tables, rebates etc. for the 2014 year of assessment were not available  at the time of going to print,  the 2013 rates and rebates were applied throughout (in such scenarios).

This tutorial book includes questions and selected solutions on South African income tax, estate duty and value-added tax.  Up-to-date questions are graded allowing students to develop their abilities from an introductory level to an advanced level.

Each chapter has a contents page referring to the sections being tested in each question. Where solutions are included these are denoted by an S and the solutions can be found at the end of each chapter. In this edition, more solutions are accompanied by mark plans. Some questions are designed to merely teach a principle and no mark plan is assigned.  These questions are flagged as TT (meaning ‘Teaching Tutorial’).  Integrated questions are also provided to assist students preparing for the SAICA qualifying examinations.  Past ACCA questions have also been adapted for inclusion in this edition.

Solutions to all questions are provided to lecturers at prescribing institutions. 

General and Trading

Chapter 1:         Gross Income               

Chapter 2:         Exempt Income

Chapter 3:         General Deduction Formula        

Chapter 4:         Other Deductions          

Chapter 5:         Capital Allowances and Recoupments      

Chapter 6:         Trading Stock and Assessed Losses        

Chapter 7:         Foreign Exchange          

Chapter 8:         Miscellaneous Provisions

Chapter 9:         Business Entities           

Chapter 10:       Dividends, Foreign Dividends and Dividends Tax  

Individuals and employees tax

Chapter 11:       Individuals        

Chapter 12:       Fringe Benefits, Allowances and Share Gains       

Chapter 13:       Employees Tax and Provisional Tax        

Chapter 14:       Retirement Benefits and Planning

Passive income and controlled foreign companies

Chapter 15:       Investment Income – Residents and Non-residents           

Capital gains tax

Chapter 16:       Capital Gains Tax           

Wealth taxes

Chapter 17:       Donations Tax and Estate Duty   

Chapter 18:       Taxation of Trusts and Estates    

Chapter 19:       Estate Planning 

Value-added taxation

Chapter 20:       Value-added Taxation    

Administration

Chapter 21:       Tax Avoidance, Administration, Objection and Appeal       

Integration

Chapter 22:       Integrated Questions     

Appendices

Appendix A:      Rates and Monetary Limits         

Appendix B:      Life Expectancy Tables   

Appendix C:      Annuity Table (capitalised at 12%)          

Appendix D:      Travel Allowance Table