Received By - Cases

Question 1

Geldenhuys

Answer 1

The amount is only included in gross income by a taxpayer only if it is received by him on his own behalf, for his own benefit

Question 2

Pyott

Answer 2

Generally deposits are still received and form part of gross income.
A deposit is only treated as not being received if the money is kept separately in a trust account, for the benefit of the customer.

Question 3

MP Finance

Answer 3

A bilateral receipt (the other party willingly gives you the money) that is used for your own intention means it has been received by you. You intended to use it for your own benefit.

Question 4

Delagoa Bay Cigarettes

Answer 4

The legality of the income is irrelevant. The amounts will still be gross income.

Question 5

Witwaterstrand Association of Racing Clubs

Answer 5

An amount accrues to a taxpayer if the taxpayer has no legal obligation to pay it over (only moral obligation) to another person.