1.
What is the tax threshold for the tax year?
1 out of 34
2.
What is the difference between net salary and gross salary?
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3.
What is PAYE (Pay As You Earn)? How is it calculated?
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4.
What is UIF? How is it calculated?
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5.
Who is excluded from contributing to UIF?
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6.
How is UIF declared/submitted and when is payment due?
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7.
Mr A (aged 73) earns R10 000 per month. What will be his monthly statutory deductions?
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8.
When should an individual register for income tax?
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9.
What additional normal tax rebates are available for individuals over 75 years?
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10.
What is the threshold for the contribution to SDL(Skills Development Levy)?
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11.
Mr A (aged 47) earns R10 000 per month. He contributes to a medical aid for himself and his wife. What are his monthly statutory deductions?
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12.
Employee B (aged 40) earns R3 500 per week. What is his PAYE (Pay As You Earn) per week?
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13.
Employee C (aged 34) earns R3 500 per fortnight. What is his PAYE per month?
13 out of 34
14.
Employee D receives R 5000 per month travel allowance. How much of this will be included in his taxable income?
14 out of 34
15.
What is the due date for the submission and payment of the EMP201?
15 out of 34
16.
What are the financial implications should the EMP201 be submitted and paid late?
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17.
What is an ETI (Employer Tax Incentive)? Who qualifies for this and how does it effect the EMP201?
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18.
Who pays provisional tax? How many provisional tax payments are allowed? When are provisional tax submissions and payments due?
18 out of 34
19.
What is VAT? How much is levied before and after 31 March 2018? When should registration for VAT be compulsory? What is voluntary registration?
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20.
If my client has R700 000 taxable sales and R350 000 exempt sales must he register for VAT?
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21.
Detail the different VAT categories.
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22.
What are zero rated supplies? List examples in addition to your answer
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23.
What are exempt supplies? List examples in addition to your answer.
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24.
My client has exempt sales of R100 000 and has incurred expenses relating to those exempt sales of R50 000 (VAT Inclusive). How much can he claim back on his expenses in terms of input VAT?
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25.
My client offers commercial accommodation whose customers stay in excess of 28 days continuously. He has taxable income of R150 000(VAT Inclusive) from those customers. What portion is subject to output VAT?
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26.
How should the VAT vendor account for VAT? Explain the different methods.
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27.
When is the VAT return due for submission and payment?
27 out of 34
28.
What are the penalties in place for late submission and payment of the VAT201?
28 out of 34
29.
What are the requirements for a valid tax invoice?
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30.
What are imports? Where are they disclosed on the VAT return?
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31.
What are exports? Where are they disclosed on the VAT return?
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32.
What is a VAT review/audit?
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33.
What is a VAT217? If you should receive a VAT217 what are the possible solutions available to you and the taxpayer?
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34.
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35.
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34 out of 34
