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Principles of Taxation > Chapter 2 - 1.2 - Types of Income > Flashcards

Chapter 2 - 1.2 - Types of Income Flashcards

1
Q

What are the two types of chargeable income?

A
  • Taxed at source - receive net of tax (with deductions)
  • Taxed by direct assessment - receive gross (before any tax deductions)
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2
Q

What amount should you always include in comuptations?

A

GROSS

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3
Q

What are the two types of income?

A

Chargeable and exempt

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Principles of Taxation (131 decks)

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