Mathematical Literacy-Grade 12-Term 1-Lesson 3-Taxation
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Resource Description
Grade 12 Mathematical Literacy Lesson Plan: Taxation
Lesson Objectives
By the end of the lesson, learners will be able to:
- Differentiate between taxable and non-taxable income.
- Calculate an individual’s yearly and monthly income tax using tax tables.
- Apply rebates and medical tax credits.
- Understand UIF and VAT and their applications in financial calculations.
- Follow a step-by-step process to accurately calculate personal income tax.
CAPS Reference
This lesson aligns with the CAPS curriculum under Finance. Learners will focus on calculating personal income tax, understanding taxable and non-taxable income, rebates, medical credits, UIF (Unemployment Insurance Fund), and VAT (Value-Added Tax). This lesson provides practical mathematical calculations linked to real-life situations involving tax.