Blogs on Assignments, Essays and Dissertations

QUESTION 1 (62 marks) Grace, a 64-year-old South African resident, has been a full-time employee at Stellar Enterprises (‘Stellar’) since 1999. Stellar is a major player in the financial services sector. The following information relates to Grace’s 2024 year of assessment: 1. Employment income: Grace earned a salary of R50 000 per month. 2. Bonus: She received an annual performance bonus of R50 000. 3. […]

Question 1 (20 marks) Read the following fictitious scenario and answer the questions that follow: On 22 February 2024, Tamia purchases an old house in Firgrove, a small suburb in Somerset West, for a total amount of R 500 000. Tamia bought the house after her friend Lindy, who works as an estate agent, told her that the houses in this suburb are selling at […]

QUESTION 1 (35 marks) Michael Peterson, a 58-year old South African resident, is married out of community of property to Linda Peterson. Michael has a deep passion for education and has been employed as a Senior Lecturer at Westbridge College, a recognised institution, for the past 25 years. His receipts and accruals during the 2024 year of assessment were as follows: • Michael receives a […]

QUESTION 1 (50 marks) Thalita is a 57-year-old South African resident who works as an architect at Big Drawings Limited (‘Big Drawings’), a South African company situated in Johannesburg. The following information pertains to Thalita’s 2024 year of assessment: 1. She earned a monthly salary of R65 000 per month from Big Drawings for the period 1 March 2023 to 30 November 2023. Thalita resigned […]

QUESTION 1 (40 marks) Linda, a 68-year-old South African resident, has been a full-time employee at Aqua Limited (‘Aqua’) since 2005. She works at Aqua’s Gauteng branch. The following information relates to Linda’s 2024 year of assessment: 1. Linda earned a monthly salary of R57 000 from Aqua for the period 1 March 2023 to 29 February 2024 (247 working days). Linda was obliged to […]

Question 1 (51 marks) Blue Vido Pty Ltd (‘’Blue V”) has the following three (3) employees during the year of assessment ended 29 February 2024. Employee 1: 18 marks Andile Andile, 77 years of age, is a Senior Manager at Blue V, a small-medium sized manufacturing company in the center of Durban. He earns a monthly salary of R32 500 until 31 December 2023, when […]

QUESTION 1 (40 marks) Tech Innovators (Pty) Ltd (‘Tech Innovators’), incorporated in South Africa in 2005, is a local technology company that specialises in developing innovative software and hardware products. They offer a wide range of services, including software development, IT consulting, and hardware design. Tech Innovators has a February financial year-end. The company is not a small business corporation as defined for normal tax […]

QUESTION 1 (23 marks) Nkululeko (52 years old) is a South African resident. He works for Global Capital (Pty) Ltd as the financial manager and was employed for the full year of assessment. The following information relates to Nkululeko’s 2023 year of assessment: Use of laptop On 1 November 2022, he was provided with the use of a new laptop. He is allowed to use […]

QUESTION 1 (27 marks) Danny (46 years old) lives in Melbourne, Australia, and only holds an Australian passport. Danny has never been an ordinarily resident for South African income tax purposes. Danny works in the renewable energy field and travels worldwide for his renewable energy projects and research. Due to one of Danny’s project and research affiliates being situated in South Africa, he is required […]

Question 1 [34 marks] Read the scenarios below for the year ending 28 February 2023 and answer the following question. A. The following is the income statement of Axe Ltd for the financial year ending 28 February 2023: Sales from services rendered R950 000 Cost of services rendered R400 000 Other operating income R95 000 Exempt income R15 000 Operating expenses R300 000 Non-deductible expenses […]