Study notes: Second year:

Income Tax

Individuals

All second year study notes

Individuals

Individue – 2de jaars

Crib note 1: Replacement of sec 11(k) and sec 11(n)

  • Sec 11(k) pensionfund and sec 11(n) retirement annuity fund is being replaced with a new sec 11(k) from 1 March 2015
  • Includes pensionfund, retirement annuity funds and provident fund
  • Limitation
    • R350 000
    • 27,5% of the highest of
      • Remuneration
      • Taxable Income
      • May not cause a loss

Individue

Individue – 2de jaars

Crib note 1: Vervanging van 11(k) en 11(n)

  • 11(k) pensioenfonds en 11(n) uittreeannuiteitsfondse word vervang deur nuwe 11(k) vanaf 1 Maart 2015
  • Sluit pensioenfonds, uittreeannuiteitsfonds en voorsorgfonds in
  • Beperking
    • R350 000
    • 27,5% van die hoogste van
      • Besoldiging
      • Belasbare inkomste
      • Mag nie ‘n verlies veroorsaak nie

Provisional tax – 2nd years

Crib note 1: Where does it fit in?

Taxation according to table                                    xxx Primary, Secondary and Tertiary rebates            (xxx) Sec 6A Rebate                                                         (xxx) Sec 6B Rebate                                                         (xxx)                                                                                      xxx PROVISIONAL TAX                                   (xxx) Taxation payable                                                     xxx