Gross Income- Case Law Flashcards
Resideny-Cohen
A person is ordinarily resident in the country which he intends to return to after he completes his wanderings. ie. his real home
Residency- Kuttle
A person is ordinarily resident in country where his primary residence is located.
Total Amount is Cash or Otherwise- Lategan
The word amount needs to be given a wider meaning=ascertainable monetary value.
Total Amount is Cash or Otherwise- Butcher Bros
Onus on SARS to determine the amount.
Total Amount is Cash or Otherwise-Brummeria
As long as amount has an ascertainable money value it will fall in gross income.
Receipt- Geldenhuys
Amount included in gross income if it was received by him on his own behalf for his own benefit.
Receipt- MP Finance
Unilateral Taking: One sided does not constitute income.
Bilateral taking: Money consensually given to taxpayer will constitute an amount received.
Receipt- Witwatersrand Association of racing clubs
If amount has accrued to a taxpayer and has no legal obligation exists to pay it over to another individual it has in fact accrued and is therefore gross income.
Receipt- Pyott Ltd
Deposits generally included in gross income.
Accrual- People’s Stores
Accrued to= entitled to
Accrual- Lategan
Word amount must given wider meaning=Ascertainable monetary value.
Accrual-Mooi
Accrual= Unconditionally entitled to the amount.
Capital vs. Revenue- Visser
Tree vs. Fruit
Capital vs. Revenue- Richmond Estates (Pty) Ltd
Initial intention of company is indicated by the actions of directors, type of business and the MOI.
Capital vs. Revenue- Nel
Krugerrands normally seen as capital.
