ANNEXUREE FORMATIVE ASSESSMENT 1 (31 MARKS) QUESTION 4 After completing your studies, two of your family members, Craig and Sherwin. approached you for tax advice Craig (48 years old) He is ordinarily resident in the Republic of South Africa The following information applies to the 2021 year of assessment Note Rand 75 000 1 15 500 2 22 800 Royalties earned from abroad Interest on an overseas bank account Return from a fixed-property collective investment scheme Return from an equity collective investment scheme Director's emoluments received from non-resident company 3 20 000 4 30 000 Notes: 1. The patent was developed in the Republic of South Africa. 2. This is not a tax-free investment and is 100% financed out of interest. 3. This is not a tax-free investment and is 80% financed out of dividends and 2 financed out of interest. For services rendered as a director and all board meetings were held abroad. UTAY230.1. Jan.lune2021. FA1-MS&FS-V2- ANNEXUREE FORMATIVE ASSESSMENT 1 (31 MARKS) QUESTION 4 After completing your studies, two of your family members, Craig and Sherwin. approached you for tax advice Craig (48 years old) He is ordinarily resident in the Republic of South Africa The following information applies to the 2021 year of assessment Note Rand 75 000 1 15 500 2 22 800 Royalties earned from abroad Interest on an overseas bank account Return from a fixed-property collective investment scheme Return from an equity collective investment scheme Director's emoluments received from non-resident company 3 20 000 4 30 000 Notes: 1. The patent was developed in the Republic of South Africa. 2. This is not a tax-free investment and is 100% financed out of interest. 3. This is not a tax-free investment and is 80% financed out of dividends and 2 financed out of interest. For services rendered as a director and all board meetings were held abroad. UTAY230.1. Jan.lune2021. FA1-MS&FS-V2