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GI CASES (CAPITAL VS REVENUE ([4]CHANGE IN INTENTION (3."cross the…
GI CASES
CAPITAL VS REVENUE
[1]NATURE OF ASSET
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3.Kruger Rands = capital, unless you sell them regularly
[2]INTENTION OF TP
"ipse dixit"
continuity, period held, manner financed
business nature, profit scheme, docs
conduct, sale reason, frequency of tx's
1.initial intention = director's actions, MOI
2.mixed intention, det. dominant one
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[4]CHANGE IN INTENTION
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- 2nd purpose could taint the 1st
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[7]LEGALITY OR OTHERWISE
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2.illegal receipts are still received, GI
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ACCRUAL
2.no legal obl to pay over, accrues to TP
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