BTW2121

South African taxation of individuals

(BUS)

6 points + 2-hour lecture and one 1-hour tutorial per week + First semester + South Africa + Prerequisite: BTW1201

Synopsis: An introduction to the principles of the taxation of individuals, including an examination of: the basic calculation of income tax; the calculation of gross income; exempt income; allowable deductions; the calculation of net normal tax payable; salaried persons - receipts; fringe benefits; salaried persons - specific deductions; Standard Income Tax on Employees (SITE); retirement benefits and investment income and royalties. The basic principles relating to the taxation of farmers is also examined.

Assessment: Assignment (up to 3000 words): 30% + Examination: 70%