Identify and correct the errors in the assessment that was issued to Siphokazi for the 2023 year of assessment - tax assessement Flashcards
1
Q
A
1
Q
Error one
A
The lump sum benefit taken from the fund has been incorrectly assessed as a withdrawal benefit.
2
Q
a 61-year-old
A
As the taxpayer retired from a provident fund on 31 December 2022, the lump sum should be subject
to tax in terms of the table applicable to retirement lump sums and not a withdrawal benefit.
2
Q
Error two
A
The taxpayer is a member of a registered medical aid scheme and therefore should have been entitled
to a s6A rebate, deducted from income tax liability, calculated as follows:
