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Gross Income during the year of assessment in the case of the resident is…
Gross Income during the year of assessment in the case of the resident is the total amount in cash or otherwise received by or accrued to in favor of such resident in the case of a non resident is the total amount in cash or otherwise received by or accrued to in favor of such person from a source within the republic excluding receipts or accruals of a capital nature
4.accrued to
Lategan accrued to means authority that the taxpayer has earned to that amount and therefore should be included in the gross income of the taxpayer
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Peoples stores the principle that was established is that accrued to refers to the right a person has earned on that amount and its should be included in the gross income if it has accrued to the taxpayer.
The accrual value is the face value not the discounted value.
1.Ordinarily resident
Cohen the principle states that a person is a normal resident to the nation where he would return after all his travels , the place he considers to be his real home
Kuttel the principle that was established states that a person is a resident where he habitually and normally resident
2.Total amount,
in cash or otherwise
Butcher brothers SARS is the responsible for derteminig the amount , so they would be no gross revenue if the amount is not determined
Brummeria For the means of determining gross income , an asset wouldn't have to be converted into money or cash by the taxpayer in order for it to be included in the gross income
Lategan the term amount refers to any type of assets with financial worth ,its also includes debts and rights
3.Received by
Delagoa Bay Cigarette The legitimacy of the income is unimportant , the amount has to be included in the gross income regardless of whether it is legal or not
Pyott deposits are received and they are revenue in nature therefore they should be included in the gross income definition
A deposit is only considered non-received if the funds are held separately in a trust fund for the customers benefit
MP Finance states that even though the receipts that are received are illegal that doesn't preclude it from being included in the gross income , they are still received and they should be included in the gross income
Witwatersrand association of racing clubs once an amount has accrued to the taxpayer it has to be included in the gross income
Geldenhuys the amount is only included on the taxpayers gross income if he receives it on his own benefits and for his own advantage
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