Page 5 - Taxation Test 4 Slides - Individuals

INDIVIDUALS & RING FENCING

New monetary values

• As the SAICA 2019 Initial Test of Competence (ITC) will

test individuals for a 2018 year of assessment together

with the 2018 monetary values as announced by the

Minister of Finance in the February 2017 budget

speech, you need to apply these monetary values when

dealing with an individual taxpayer.

• These monetary values are applicable to an individual’s

year of assessment ended on 28 February 2018. So,

when dealing with individuals you must use these

monetary values contained in the SAICA 2017/18

Student Handbook and SILKE 2018 page 359 – 362 (tax

tables) and 367 -368 (fixed cost table).

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