Please enable JavaScript.
Coggle requires JavaScript to display documents.
Special Inclusions & Exemptions (Lease Premiums (g) (Buther Bros,…
Special Inclusions & Exemptions
Annuities
Characteristics:
Annual Payment
Repetitive
Chargeable against some person
Purchased Annuities 10A
Y = A/B x C
X = A - D
Hogan, KBI & Ander (Fireman)
Alimony
Included & Exempted
Restraint of Trade
Included in GI of receiver
Deduction for Payer, Over a Period
Deduction the smallest amount between the years the restraint is applicable or 3
Services rendered (c)
Steven
Services: Commutation of amount due
Lease Premiums (g)
Buther Bros
Lessor: Include in GI; tax full amount in one year
Lessee: Deduction - spread over lease period
Limited to 25 years
Leasehold improvements (h)
2 possibilities
Contractually obligated: Lessor INCLUDE in GI
Not Contractually obligated: Doesn't have to include in GI
Amount to be included
Value of improvements in contract
Amount to be expensed
Amount representing fair & reasonable value of improvements
Deduction
Compensating for imparting knowledge & information (gA)
Proceeds from the disposal of certain assets
Dividends (k)
SA Dividends = FULL
Foreign Dividends
A = B X C
Amounts deemed to be receipts/accruals & recoupments (n)
Salaries & emoluments
War pension & awards for diseases & injuries
Unemployment Insurance benefits
Interest
Natural persons
<65 = 23 800; older >65 = 34 500
Tax free investments:
Contribute >30 000
*500 000/lifetime
proceeds exempt