SAQA 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: 

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 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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:
  • Distinguish between expenses that are allowable and which aren't allowable as tax rebates/deductions for a sole trader
  • Calculate capital allowances
  • Calculate the figures required for the completion of an income tax return
  • Calculate the tax payable by an individual who is a sole trader
  • Apply the concepts of limited liability and incorporation to a sole trader. 

  • 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 
  • A person may exhibit this competence in the private and/ or the public sector.
  • VAT returns are included 

  • 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 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA,or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion 

  • 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  Reregistered  2023-06-30  FASSET 
    Elective  58375   National Certificate: Bookkeeping  Level 3  NQF Level 03  Reregistered  2023-06-30  FASSET 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 
    Elective  58978   National Certificate: Journalism  Level 5  Level TBA: Pre-2009 was L5  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. Artshub Institute (Pty) Ltd 
    2. ATTI Nelspruit Pty Ltd 
    3. Big Fish School of Digital Filmmaking (Pty) Ltd 
    4. Comfortable Tech 
    5. eMedia Investment 
    6. Falcon Business Institute (Pty) Ltd 
    7. FILM Mentorship & Training 
    8. Footprint Media academy Pty ltd 
    9. Gauteng Central College PTY LTD 
    10. IALE School of Advanced Learning and Education (Pty) Ltd 
    11. In Excess Trading 22 T/A ATTI Polokwane 
    12. Jeppe College of Commerce and Computer Studies 
    13. Kundani Trading 
    14. Media Village Communication 
    15. South African Film Institute 
    16. The Media Workshop cc 
    17. Training for Results (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.