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1 . The income of a taxpayer is subject to the applicable tax rate for the taxpayer to calculate their tax liability. True or False

1. The income of a taxpayer is subject to the applicable tax rate for the taxpayer to calculate their tax liability.
True or False
2.Mrs. Z, aged 55, is a resident of SA. She received total interest of R50000 for the 2024 year of assessment, of which R30000 is from a savings account she holds with a bank in the United Kingdom (a non-resident of SA).
Select the correct statement or statements from the options below:
a. Mrs. Z is subject to tax on a source basis in South Africa
b. With regard to the foreign interest earned by Mrs. Z, there is no exemption available to her for the R30000 earned
c. Mrs. Z can claim an exemption of R23800 in her tax computation for the 2024 year of assessment
d. Mrs. Zs total gross income for the 2024 year of assessment is R30000.
e. Mrs. Zs income for the 2024 year of assessment is R50000.
3. During the 2024 year of assessment, Mr. T contributed R35000 to a tax-free investment, in addition to re-investing R1350 of interest and R600 of dividends that were earned on the investment for the 2024 year of assessment. He has not exceeded the lifetime contntiution limit of R500000
Choose the correct statement(s) from below
A. Mr. T made total contributions of R36950 in the 2024 year of assessment and has therefore exceeded his annual amit of R35000
B. Mr. T will be liable to pay additional normal tax calculated at 40% of the excess contributions, which amounts to R380(40% x R950)
C. Mr. Thas not exceeded his annual contribution limit of R36,000,
D. The interest (R1350) is exempt in terms of s10(1)(1) and the dividend (R600) is exempt in terms of s101)(k)
E. Both the interest (R1,350) and the dividend (R600) earned from the tax-free investment are exempt under section 12T
4. Mr.Q (a South African resident) earns a Rand equivalent of R31500 in foreign dividends for the 2074 year of assessment, in addition to R18180 in local dividends. The foreign dividends are from a private company in China, in which Mr. Q has a 50% shareholding. The local dividends received include an amount of R3600 from a company that is a "REIT as defined.
Select the correct statement(s) from below.
A.The foreign dividend of R31500 is fully exempt
B. The foreign dividend is partially exempt. The amount of the exemption is R17500(calculated as R31500 x 25/45)
C. The foreign dividend is parmally exempt. The amount of the exemption is R8167(calculated as R31.500 x 7/27)
D. The local dividends of R18100 are fully exempt
E. The local dividends are partially exempt. The amount of the manmpion is R10100(carculated as R18180 x 25/45)
F. The local dividends are partially exempt. The amount of the exemphon R14580(calculated as R18180-R3600)
5. Mr. X (a resident of the Republic) receives a pension of R10000 per month from a foreign pension fund, which is in respect of his 10-year employment with a German company Dunng his 10-year employment, he was required to spend a total of 12 months working in Germany with the balance of the time worked in South Africa
Select the correct statement or statements from the options below
A. Mr X is required to include R12000 in his grass income.
B. Mr. X is allowed an exemption of R120.000
C. Mr X is allowed an exemption of R12000
D. Mr. X will have income of RO after subtracting the exemptions
E. Mr. X will have income of R108.000 after subtracting the exemptions
6. Mr. C and Mrs. C.(resudents of the Republic) are both employed at the same company Mrs C is a receptionist and Mr. C is a security guard. The company paid Mrs. Ca uniform allowance of R1500 for the 2024 year of assessment, as she is required to wear a plain white blouse and a blue skirt every day. Mr. C received uniforms valued R3500 for the 2024 year of assessment. He is required to wear a monogrammed blue combat shirt, with combat trousers and combat boots
Is the statement below true or false. Mrs C and Mr Care entitled to claim the section 10(1)(nAj exemption for the uniform allowance and the value of the unform respectively. This is because they are required to wear specific uniforms by these employers
True or False
7. During the 2024 year of assessment, Joe was given a bursary form his employer, amounting to R45000 to study an Advanced Diploma course (NQF level 7) through a recognised institution, on condition that Joe will repay the bursary if he fails to complete his studies. In addition, Joes employer granted his son a bursary of R50000 for the 2024 year of assessment to study at a private high school, Joes son was enrolled in Grade 8 at the time Joes remuneration proxy is R450000 Neither Joe nor his son are disabled. With regard to the bursanes granted, Joes income for the 2024 year of assessment is
A. R95000
B.65000
C.30000
D. R0
E. R20000
8. Harriet (aged 43 a South African resident) has the following for the 2024 year of assessment
Rental income of R180000 and related expenditure for repairs and maintenance on the rental property amounting to R8000
Local interest of R:28:900
Local dividends of R14300(not from a REIT or controlled company as defined), and
Alimony of R50000 from her ex husband
Select the correct statement or statemente from the options below
A. There is an exemption available for the R8000 expenditure relating to the rental property
B. Hariel can claim R28900 as an interest exemption under s10(1)
C. The local dividends of R14300 is fully exempt under s10(1100
D. The alimony amount of R50000 is fully deductible as a general deduction for income tax purposes

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