TAX2601 - Principles of Taxation

Purpose: The aim of this module is to provide students with sound knowledge of the Income Tax Act, applicable to individuals (natural persons) as well as the application of the principles governing individuals in order to determine the income tax liability. The module encompasses the calculation of income tax liability including the calculation of fringe benefits, retirement benefits, investment income, farming income and capital gains tax. Students will also learn to calculate pre-paid taxes both employees’ tax and provisional tax. The taxation of non-residents also forms part of the content of the module.