1. Distinguish between compulsory and voluntary VAT registration with SARS

2. Describe dividend tax

3. XY LTD made a distribution to a shareholder with a 20% interest in the company of R200 000. The directors decided that the distribution represents the entire share premium of R160 000 plus R60 000 profits. Determine the amount of the distribution that represent a dividend as defined.

4. Enumerate four conditions for cost of repairs to allowed as deduction.