Gross income tips

Question 1

Gross income means, inter alia, in the case of a resident, the total amount received by or accrued to or
in favour of such resident. Dizzy has received the R400,000 for its own use and benefit.
(Geldenhuys v CIR).

Answer 1

NB NB

The advance payment was not deposited in a trust or separate bank account
(Pyott)

This amount will be included in its gross income