The outcomes for the SLP include:

·        identify the taxation process in South Africa;

·        explain differences between different taxes;

·        explain how to use the taxation legislation;

·        recognise different taxpayers;

·        demonstrate how the levying section (s5(1)) is applied;

·        analyse elements of gross income definition;

·        discuss the “days” test in definition of a resident;

·        compare the concepts of source and deemed source;

·        apply the concepts of “worldwide”;

·        identify the special inclusions in income as per the definition of gross income;

·        illustrate that exempt income is income that was first included in gross income and then exempted;

·        use the two tests for deductibility: Section 11(a); and the income derived from carrying on a trade – s23;

·        demonstrate that certain amounts will not be allowed as deductions for tax purposes;

·        integrate the rules of general deductions in a tax calculation;

·        discuss the tax treatment of specific expenses and losses;

·        apply the special deductions per s11;

·        compare repairs and improvements;

·        analyse and apply the case law on repairs;

·        recognise assets subject to the basic capital allowances;

·        calculate the Income Tax consequences of the disposal of assets (excluding Capital Gains Tax (CGT) effect);

·        illustrate where CGT fits in the tax framework;

·        explain the CGT consequences on transactions typical to companies after 1 October 2001;

·        calculate the CGT consequences of basic transactions for individuals, after 1 October 2001;

·        choose the tax rates applicable to different kinds of companies;

·        discuss the basic taxation consequences of trading stock;

·        explain how to calculate the taxable income of a company starting with the accounting net profit before tax;

·        prepare a basic Secondary Tax on Companies (STC) calculation;

·        categorise Small Business Corporations (SBC);

·        formulate the special allowances available to an SBC;

·        apply the Income Tax principles to calculate the Income Tax liability of an SBC;

·        identify pre-trading expenditure and losses that can be claimed in terms of s11A;

·        differentiate the three provisional tax payments due by a company;

·        classify how provisional tax payments slot into the Income Tax calculation;

·        differentiate the Value-Added Tax (VAT) is a tax separate from Income Tax;

·        describe the mechanism of VAT, in which businesses are liable for tax on their outputs less the credits for tax on their inputs;

·        apply the rules regarding the payment of VAT by a vendor;

·        analyse the concept of supply of goods and services;

·        assess the different kinds of supply;

·        apply the provisions regarding the time and value of a supply;

·        identify both the Income Tax and VAT consequences of a transaction;

·        identify the VAT portion included in an amount when calculating the Income Tax consequences; and

·        show awareness of ethical practices regarding tax and the payment thereof.