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3. 0 HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS Question 3 VIEW REVIEW Acton Naidoo is 54 years old. He is married and has one 18 year old child. He had the following income id expenses for the current year of ssessment Income R 150 000 R13000 Salary Bonus received (non-pensionable) Dividends From a South African company Taxable foreign dividend Interest received: R2860 20200 South African savings account Foreign bank account Rental income from a source within South Africa R23 400 R5200 2800 Expenses Medical expenses Acten belongs to a medical aid scheme. His wife and daughter are listed as dependents. His employer contributes R800 per month to the medical sid scheme in respect of his membership, and Acren contributes R850 per month ren incurred further qualifying medical expenses of R25 500 during the year of assessment. These expenses were not covered by his medical aid. Pension fund contribution for the year - current 8% of salary Retirement annuity fund contributions on monthly basis - current R350 en pays 100% of his contributions to all retirement funds He made the following donations during the year Donation to Natal University R500 Donation to AIDS crisis centre (public benefit organisation) Local Boy Scout Troop - (not a public benefit organisation) R7 500 R1 500 During the year of assessment Que was obliged to spend four days away from his usual place of residence in the Republic for business purposes. He received an allowance of R2 600 from his employer He is able to prove that he incurred expenses of R900 on meals and incidental expenditure 466 WORDS & ENGLISH (SOUTH AFRICA) Type here to search e ou Word Question 1 Calculate Orren Naidoos taxable income before retirement and donation deductions for the 2010 year of assessment Question 2 Assuming Ourens taxable income before retirement fund and donation deductions is R240 282, calculate his taxable income for the 2010 year of assessment (after donation and retirement fund deductions) In addition to the above amounts. Acren realised a capital gain of R80 000 and capital loss of R10 000 during the current year of assessment Prepaid taxes An amount of R10 400 was deducted by his employer from his monthly salary for employee's tax Ore is a registered provisional taxpayer and he paid provisional tax of R4 000 during the current year of assessment T REFERENCES MAILINGS REVIEW VIEW Appende 1: tax table for 2019 tax year. (March 2018 - 28 February 2019) Taxable income (R) Rates of tax (R) 0-196 850 18% of table income 195 851 - 305 850 35253-26% of taxable income above 195 850 305 851 - 423 300 63 853 -31% of taxable income above 305 850 423 301 - 556 600 100263 36% of taxable income above 423 300 555001 - 708 310 1 47 891 39% of taxable income above 555 600 708 311 - 1500000 2 07 448 41% of table income above 708 310 1 500 001 and above 532041 45% of taxable income above 1 500 000 Appendix 2: Tax rebates for 2019 tax year (1 March 2018 - 28 February 2018) Tax Rebate R14067 Primary Secondary (65 and older, but under 75) Tertiary (75 and older) R7 712 R2 574 Appendix 3: Medical tax credit rates for 2019 tax year (1 March 2018 - 28 February 2019) Medical tax credit rate per mon R310 For the taxpayer who paid the medical scheme contributions For the first dependant For each additional dependants) R310 R20 106.6 Appendix 4: Deemed.cost per kilometer for 2019 tax year (1 March 2018 - 28 February 2019) Value of the vehicle Fixed cost per annum Fuel cost Maintenance cost (R) (R) (centkm) (cent km) 0-85 000 28 352 957 35001 - 170 000 50631 170 001 - 255 000 255 001 - 340 000 92 683 340 001 - 425 000 112 443 1335 425 001 - 510 000 133 147 510001 - 595 000 153 850 more than 595 000 153 850 158.4 0 72 883 Hi e o 18:22 X Question 3.docx Orren Naidoo is 54 years old. He is married and has one 16- year-old child. He had the following income and expenses for the current year of assessment: Income S Based on entiel From a South African company Tawbeforeign dividend Interest received South African savings account Foreign bank account Rental income from a source within South Africa R23 400 TRS 290 R25 000 Expenses Medical expenses Orren belongs to a medical aid scheme. His wife and daughter are listed as dependents. His employer contributes R800 per month to the medical aid scheme in respect of his membership, and Orren contributes R850 per month. Orren incurred further qualifying medical expenses of R25 500 during the year of assessment. These expenses were not covered by his medical aid. Pension fund contribution for the year - current 8% of salary Retirement annuity fund contributions on monthly basis-current R350 Orren pays 100% of his contributions to all retirement funds. He made the following donations during the year Donation to Natal University R500 Donation to AIDS crisis centre (public benefit organisation) R7 500 Local Boy Scout Troop - (not a public benefit organisation) R1 500 During the year of ARNARSMent Duran was obliged to spend Donation to AIDS crisis centre (public benefit organisation) R7 500 - Local Boy Scout Troop - (not a public benefit organisation) R1 500 During the year of assessment, Orren was obliged to spend four days away from his usual place of residence in the Republic for business purposes. He received an allowance of R2 500 from his employer. He is able to prove that he incurred expenses of R900 on meals and incidental expenditure Question 1 Calculate Orren Naidoos taxable income before retirement and donation deductions for the 2019 year of assessment Question 2 Assuming Orrens taxable income before retirement fund and donation deductions is R249 282, calculate his taxable income for the 2019 year of assessment (after donation and retirement fund deductions). In addition to the above amounts, Orren realised a capital gain of R80 000 and capital loss of R10 000 during the current year of assessment. Prepaid taxes An amount of R10 400 was deducted by his employer from his monthly salary for employee's tax. Orren is a registered provisional taxpayer and he paid provisional tax of R4 000 during the current year of assessment. Appendix 4: Deemed cost per kilometer for 2019 tax year (1 March 2018 - 28 February 2019) Appendix 1: tax table for 2019 tax year 1 March 2018 - 28 February 2019) Taxable income (R) Rates of taxR 0-95 850 18% of table income 195 851 - 305 850 35253 20% of table income above 195850 305851 - 423 300 63 653 31% of table income above 305 650 423 301 - 555 600 100263 30 ofble income above 479 300 555601-708 310 147891.39% of table income above 556 500 708 311 - 1500 000 207 448 41 of table me above 708 310 1 500 001 and above 53204145% of taxable income above 1 500 000 Appendix 2: Tax rebates for 2019 tax year 11 March 2018 - 28 February 2018) Tax Rebate R14 Secondary 155 and older, but under 75 Tertiary (15 and older R2 574 Question 2 Assuming Orrens taxable income before retirement fund and donation deductions is R249 282, calculate his taxable income for the 2019 year of assessment (after donation and retirement fund deductions). In addition to the above amounts, Orren realised a capital gain of R80 000 and capital loss of R10 000 during the current year of assessment. Prepaid taxes An amount of R10 400 was deducted by his employer from his monthly salary for employee's tax. Orren is a registered provisional taxpayer and he paid provisional tax of R4 000 during the current year of assessment. Appendix 4: Deemed cost per kilometer for 2019 tax year (1 March 2018 - 28 February 2019) Appendix lax table for 2011 tax yeur (1 March 2018 - 28 February 2019 Taxable income (R) Rates of taxR) 0 - 15850 18% ofta income 195 651-305 850 3525320% of table income above 195 650 305851 - 423 300 8385331 f enome stove 305 850 423 301 - 565 600 100263 36% of table income above 423 300 556001 - 708 310 147 801 30% of w o mebove 555 800 P08 311 - 1500000 207 448 41% of taxable income above 708 310 1 500 001 and above 522041 .45% of table income above 1500 000 Appenda 2: Trebales for 2018 tax yeur (1 March 2018 - 28 February 2015) Secondary 65 and older, but under 75) Tertiary and older Appendix Medical tax credit for 2017 a year March 2018 - 21 February 2013 Wedical and the contributions more For the whold them For the first dependant For eachional pendant Value of the vehicle Fixed cost per a 0.85 000 85001 - 170 000 170 001 - 255 000 255 001 - 3 000 Elxal AH 133.5 72 983 2 683 112 443 133 147 153 850 153 850 584 510001 - 595 000 more than 595 000 158.4 3. 0 HOME INSERT DESIGN PAGE LAYOUT REFERENCES MAILINGS Question 3 VIEW REVIEW Acton Naidoo is 54 years old. He is married and has one 18 year old child. He had the following income id expenses for the current year of ssessment Income R 150 000 R13000 Salary Bonus received (non-pensionable) Dividends From a South African company Taxable foreign dividend Interest received: R2860 20200 South African savings account Foreign bank account Rental income from a source within South Africa R23 400 R5200 2800 Expenses Medical expenses Acten belongs to a medical aid scheme. His wife and daughter are listed as dependents. His employer contributes R800 per month to the medical sid scheme in respect of his membership, and Acren contributes R850 per month ren incurred further qualifying medical expenses of R25 500 during the year of assessment. These expenses were not covered by his medical aid. Pension fund contribution for the year - current 8% of salary Retirement annuity fund contributions on monthly basis - current R350 en pays 100% of his contributions to all retirement funds He made the following donations during the year Donation to Natal University R500 Donation to AIDS crisis centre (public benefit organisation) Local Boy Scout Troop - (not a public benefit organisation) R7 500 R1 500 During the year of assessment Que was obliged to spend four days away from his usual place of residence in the Republic for business purposes. He received an allowance of R2 600 from his employer He is able to prove that he incurred expenses of R900 on meals and incidental expenditure 466 WORDS & ENGLISH (SOUTH AFRICA) Type here to search e ou Word Question 1 Calculate Orren Naidoos taxable income before retirement and donation deductions for the 2010 year of assessment Question 2 Assuming Ourens taxable income before retirement fund and donation deductions is R240 282, calculate his taxable income for the 2010 year of assessment (after donation and retirement fund deductions) In addition to the above amounts. Acren realised a capital gain of R80 000 and capital loss of R10 000 during the current year of assessment Prepaid taxes An amount of R10 400 was deducted by his employer from his monthly salary for employee's tax Ore is a registered provisional taxpayer and he paid provisional tax of R4 000 during the current year of assessment T REFERENCES MAILINGS REVIEW VIEW Appende 1: tax table for 2019 tax year. (March 2018 - 28 February 2019) Taxable income (R) Rates of tax (R) 0-196 850 18% of table income 195 851 - 305 850 35253-26% of taxable income above 195 850 305 851 - 423 300 63 853 -31% of taxable income above 305 850 423 301 - 556 600 100263 36% of taxable income above 423 300 555001 - 708 310 1 47 891 39% of taxable income above 555 600 708 311 - 1500000 2 07 448 41% of table income above 708 310 1 500 001 and above 532041 45% of taxable income above 1 500 000 Appendix 2: Tax rebates for 2019 tax year (1 March 2018 - 28 February 2018) Tax Rebate R14067 Primary Secondary (65 and older, but under 75) Tertiary (75 and older) R7 712 R2 574 Appendix 3: Medical tax credit rates for 2019 tax year (1 March 2018 - 28 February 2019) Medical tax credit rate per mon R310 For the taxpayer who paid the medical scheme contributions For the first dependant For each additional dependants) R310 R20 106.6 Appendix 4: Deemed.cost per kilometer for 2019 tax year (1 March 2018 - 28 February 2019) Value of the vehicle Fixed cost per annum Fuel cost Maintenance cost (R) (R) (centkm) (cent km) 0-85 000 28 352 957 35001 - 170 000 50631 170 001 - 255 000 255 001 - 340 000 92 683 340 001 - 425 000 112 443 1335 425 001 - 510 000 133 147 510001 - 595 000 153 850 more than 595 000 153 850 158.4 0 72 883 Hi e o 18:22 X Question 3.docx Orren Naidoo is 54 years old. He is married and has one 16- year-old child. He had the following income and expenses for the current year of assessment: Income S Based on entiel From a South African company Tawbeforeign dividend Interest received South African savings account Foreign bank account Rental income from a source within South Africa R23 400 TRS 290 R25 000 Expenses Medical expenses Orren belongs to a medical aid scheme. His wife and daughter are listed as dependents. His employer contributes R800 per month to the medical aid scheme in respect of his membership, and Orren contributes R850 per month. Orren incurred further qualifying medical expenses of R25 500 during the year of assessment. These expenses were not covered by his medical aid. Pension fund contribution for the year - current 8% of salary Retirement annuity fund contributions on monthly basis-current R350 Orren pays 100% of his contributions to all retirement funds. He made the following donations during the year Donation to Natal University R500 Donation to AIDS crisis centre (public benefit organisation) R7 500 Local Boy Scout Troop - (not a public benefit organisation) R1 500 During the year of ARNARSMent Duran was obliged to spend Donation to AIDS crisis centre (public benefit organisation) R7 500 - Local Boy Scout Troop - (not a public benefit organisation) R1 500 During the year of assessment, Orren was obliged to spend four days away from his usual place of residence in the Republic for business purposes. He received an allowance of R2 500 from his employer. He is able to prove that he incurred expenses of R900 on meals and incidental expenditure Question 1 Calculate Orren Naidoos taxable income before retirement and donation deductions for the 2019 year of assessment Question 2 Assuming Orrens taxable income before retirement fund and donation deductions is R249 282, calculate his taxable income for the 2019 year of assessment (after donation and retirement fund deductions). In addition to the above amounts, Orren realised a capital gain of R80 000 and capital loss of R10 000 during the current year of assessment. Prepaid taxes An amount of R10 400 was deducted by his employer from his monthly salary for employee's tax. Orren is a registered provisional taxpayer and he paid provisional tax of R4 000 during the current year of assessment. Appendix 4: Deemed cost per kilometer for 2019 tax year (1 March 2018 - 28 February 2019) Appendix 1: tax table for 2019 tax year 1 March 2018 - 28 February 2019) Taxable income (R) Rates of taxR 0-95 850 18% of table income 195 851 - 305 850 35253 20% of table income above 195850 305851 - 423 300 63 653 31% of table income above 305 650 423 301 - 555 600 100263 30 ofble income above 479 300 555601-708 310 147891.39% of table income above 556 500 708 311 - 1500 000 207 448 41 of table me above 708 310 1 500 001 and above 53204145% of taxable income above 1 500 000 Appendix 2: Tax rebates for 2019 tax year 11 March 2018 - 28 February 2018) Tax Rebate R14 Secondary 155 and older, but under 75 Tertiary (15 and older R2 574 Question 2 Assuming Orrens taxable income before retirement fund and donation deductions is R249 282, calculate his taxable income for the 2019 year of assessment (after donation and retirement fund deductions). In addition to the above amounts, Orren realised a capital gain of R80 000 and capital loss of R10 000 during the current year of assessment. Prepaid taxes An amount of R10 400 was deducted by his employer from his monthly salary for employee's tax. Orren is a registered provisional taxpayer and he paid provisional tax of R4 000 during the current year of assessment. Appendix 4: Deemed cost per kilometer for 2019 tax year (1 March 2018 - 28 February 2019) Appendix lax table for 2011 tax yeur (1 March 2018 - 28 February 2019 Taxable income (R) Rates of taxR) 0 - 15850 18% ofta income 195 651-305 850 3525320% of table income above 195 650 305851 - 423 300 8385331 f enome stove 305 850 423 301 - 565 600 100263 36% of table income above 423 300 556001 - 708 310 147 801 30% of w o mebove 555 800 P08 311 - 1500000 207 448 41% of taxable income above 708 310 1 500 001 and above 522041 .45% of table income above 1500 000 Appenda 2: Trebales for 2018 tax yeur (1 March 2018 - 28 February 2015) Secondary 65 and older, but under 75) Tertiary and older Appendix Medical tax credit for 2017 a year March 2018 - 21 February 2013 Wedical and the contributions more For the whold them For the first dependant For eachional pendant Value of the vehicle Fixed cost per a 0.85 000 85001 - 170 000 170 001 - 255 000 255 001 - 3 000 Elxal AH 133.5 72 983 2 683 112 443 133 147 153 850 153 850 584 510001 - 595 000 more than 595 000 158.4