All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |
SOUTH AFRICAN QUALIFICATIONS AUTHORITY |
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: |
Calculate tax payable by a small business |
SAQA US ID | UNIT STANDARD TITLE | |||
114742 | Calculate tax payable by a small business | |||
ORIGINATOR | ||||
SGB GET & FET Business, Commerce and Mngment Stud | ||||
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY | ||||
- | ||||
FIELD | SUBFIELD | |||
Field 03 - Business, Commerce and Management Studies | Finance, Economics and Accounting | |||
ABET BAND | UNIT STANDARD TYPE | PRE-2009 NQF LEVEL | NQF LEVEL | CREDITS |
Undefined | Regular | Level 4 | NQF Level 04 | 6 |
REGISTRATION STATUS | REGISTRATION START DATE | REGISTRATION END DATE | SAQA DECISION NUMBER | |
Passed the End Date - Status was "Reregistered" |
2018-07-01 | 2023-06-30 | SAQA 06120/18 | |
LAST DATE FOR ENROLMENT | LAST DATE FOR ACHIEVEMENT | |||
2026-06-30 | 2029-06-30 |
In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise. |
This unit standard does not replace any other unit standard and is not replaced by any other unit standard. |
PURPOSE OF THE UNIT STANDARD |
This Unit Standard is for people who are responsible for controlling the finances of a small business or who are responsible for the bookkeeping aspect of financial management in larger organisations
Qualifying learners will be able to: |
LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING |
It is assumed that learners are competent in Communication, Mathematical Literacy and Accounting at NQF Level 3. |
UNIT STANDARD RANGE |
Specific Outcomes and Assessment Criteria: |
SPECIFIC OUTCOME 1 |
Distinguish between the main business expenses that are not allowable for income tax purposes. |
OUTCOME NOTES |
Distinguish between the main business expenses that are not allowable for income tax purposes and those that are allowable. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The concepts of tax rebates and expenses that are tax deductible are explained using examples from the expenses of a small business |
ASSESSMENT CRITERION 2 |
Expenditure items that are tax deductible and those that are not are identified and listed for a small business for use on a tax return |
SPECIFIC OUTCOME 2 |
Understand and calculate capital allowances. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The concept of Capital Allowances is understood and illustrated with examples from a sole trader |
ASSESSMENT CRITERION 2 |
Capital Allowances are calculated for the purpose of making the appropriate entries in an income tax return |
SPECIFIC OUTCOME 3 |
Calculate the figures required for the completion of an income tax return. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The information that is required to enable tax returns to be completed is identified and explained with examples |
ASSESSMENT CRITERION 2 |
The required entries for an income tax return, including turnover for tax purposes, are calculated where the small business is the single source of income |
SPECIFIC OUTCOME 4 |
Calculate the tax payable by an individual who is a sole trader. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The tax payable by an individual who is a sole trader or where a small business is the sole source of income is calculated using the Receiver of Revenue's tax tables |
ASSESSMENT CRITERION 2 |
The required tax forms are completed correctly for an individual who is a sole trader or who derives income entirely from a small business |
SPECIFIC OUTCOME 5 |
The concepts of limited liability and incorporation are applied. |
ASSESSMENT CRITERIA |
ASSESSMENT CRITERION 1 |
The concepts of limited liability and legal status is explained for a limited company |
ASSESSMENT CRITERION 2 |
The tax liability of a small business is explained with examples of the implications of compliance and non-compliance |
UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS |
UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE |
N/A |
UNIT STANDARD DEVELOPMENTAL OUTCOME |
N/A |
UNIT STANDARD LINKAGES |
N/A |
Critical Cross-field Outcomes (CCFO): |
UNIT STANDARD CCFO IDENTIFYING |
Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. |
UNIT STANDARD CCFO ORGANISING |
Organise and manage oneself and one's activities responsibly and effectively. |
UNIT STANDARD CCFO COLLECTING |
Collect, organise and critically evaluate information. |
UNIT STANDARD CCFO COMMUNICATING |
Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations. |
UNIT STANDARD CCFO SCIENCE |
Use science and technology effectively and critically (showing responsibility towards the environment and health of others). |
UNIT STANDARD CCFO DEMONSTRATING |
Demonstrate an understanding of the world as a set of related systems. |
UNIT STANDARD CCFO CONTRIBUTING |
Be culturally and aesthetically sensitive across a range of social contexts. |
UNIT STANDARD ASSESSOR CRITERIA |
N/A |
REREGISTRATION HISTORY |
As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. |
UNIT STANDARD NOTES |
N/A |
QUALIFICATIONS UTILISING THIS UNIT STANDARD: |
ID | QUALIFICATION TITLE | PRE-2009 NQF LEVEL | NQF LEVEL | STATUS | END DATE | PRIMARY OR DELEGATED QA FUNCTIONARY | |
Core | 48736 | National Certificate: Small Business Financial Management | Level 4 | NQF Level 04 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | FASSET |
Elective | 58375 | National Certificate: Bookkeeping | Level 3 | NQF Level 03 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | FASSET |
Elective | 58394 | National Certificate: Film and Television Production | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | MICTS |
Elective | 58978 | National Certificate: Journalism | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Reregistered" |
2023-06-30 | MICTS |
Elective | 49123 | National Certificate: Journalism | Level 5 | Level TBA: Pre-2009 was L5 | Passed the End Date - Status was "Registered" |
2007-10-18 | Was MICTS until Last Date for Achievement |
PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: |
This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here. |
1. | ATTI Nelspruit Pty Ltd |
2. | BLC Entertainment |
3. | Epitome Villa (Pty)Ltd |
4. | EYETHU NATIONAL COMPUTER COLLEGE PTY LTD |
5. | FILM Mentorship & Training SA |
6. | Frayintermedia Cc |
7. | HILLCROSS BUSINESS SCHOOL (PTY |
8. | Jeppe College of Commerce and |
9. | Kundani Trading |
10. | MBOWA COLLEGE PTY LTD |
11. | Media Village Training |
12. | Musengavhadzimu Media |
13. | OL Afrika Media |
14. | OPELONG BUSINESS INSTITUTE (PT |
15. | Peo Entle HIV Wellness Management and Youth Skills Development NPO |
16. | Posh Multimedia |
17. | Pretoria Technical College |
18. | PRX SCHOOL TEST |
19. | Richfield Graduate Institute of Technology Pty Ltd |
20. | SOUTH AFRICAN CORPORATE TRAINING ASSOCIATION (PTY) LTD |
21. | Together Lifestyle Resort Pty Ltd |
22. | TSP COLLEGE |
23. | Varsity Institute of Science & Technology (Pty)Ltd |
24. | VUTHLARI MARKETING CONSULTING |
25. | Whitestone College |
26. | ZA WIT (PTY) LTD |
All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source. |