Offered
South Africa First semester 2008 (Day)
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; capital gains tax. The basic principles relating to the taxation of farmers is also examined.
Objectives
The learning objectives of this unit are to:
- Develop an understanding of the South African taxation system as it impacts on individuals;
- Develop the capacity to calculate the tax payable by individuals.
Assessment
Within semester assessment: 30%
Examination: 70%
Contact hours
2-hour lecture and one 1-hour tutorial per week
Prerequisites
BTW1201
