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Gross income, References, Capital vs. Revenue Nature - Coggle Diagram
Gross income
Elements of Gross income
Total amount: This includes all forms of income, whether in cash or otherwise (e.g., property, services, rights).
Received by or accrued to: This means receiving or having the right to income, even if it has not been received in cash yet.
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During the tax year or assessment period, the income amount should be evaluated within the specific period for tax assessment.
Excluding capital receipts: Gross income does not include capital receipts, which may be subject to capital gains tax instead.
Definition:
For residents, gross income is the total amount, whether received in cash or otherwise, during the specific tax year or assessment period, excluding capital receipts.
For non-residents, gross income is the total amount, whether received in cash or otherwise, from a source within or deemed to be within the Republic during the specific tax year or assessment period, excluding capital receipts.
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References
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CIR v Pick 'n Pay Employee Share Purchase Trust (1992 (4) SA 39 (A)).
Available at: CIR v Pick 'n Pay Employee Share Purchase Trust (1992)
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Elandsheuwel Farming (Edms) Bpk v SBI (1978 (1) SA 101 (A)).
Available at: Elandsheuwel Farming (Edms) Bpk v SBI (1978)
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Caltex Oil (SA) Ltd v Secretary for Inland Revenue (1975 (1) SA 665 (A)).
Available at: Caltex Oil (SA) Ltd v Secretary for Inland Revenue (1975)
Berea West Estates (Pty) Ltd v SIR (1976 (2) SA 614 (A)).
Available at: Berea West Estates (Pty) Ltd v SIR (1976)
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