Please enable JavaScript.
Coggle requires JavaScript to display documents.
Gross Amount: Capital or Revenue Nature, Nel case- Krugerrands, To…
-
Nel case- Krugerrands
🪙Principle- Krugerrands is a special asset. the only income is trough the sale of one. under normal circumstances it is capital unless it is used to make a profit.
To determine look at Intention, Business nature, is it schemes of profit-making.
Summary:
The nature of the transaction is important, was it part of capital or was it used as trading stock meaning a profit could be made (Profit scheme)
The Intention- the purpose of the transaction taking place was it to acquired to make a profit or for long term use? one can also consider if the intention changed from the initial purpose.
Pattern of transactions: the frequency at which the transactions take place is important to consider as the more it happens could indicate that there is a secondary purpose.
Haupt, P. & Haupt, E., 2026. Notes on South African Income Tax 2026. 45th ed. Cape Town: Hedron (H & H Publications).
-