Page 20 - SAICA Tax Day 2 Slides

GR
GROSS INCOMEOSS INCOME

Gross Income - Definition (s1)

• With respect to a Resident:

• Total amount (People Stores – includes property earned which has
a monetary value)

• In cash (Lace Proprietary Mines, Lategan) or otherwise (must
establish the market value of taxpayers right),

• Earlier of receipt (on his/her own behalf or for his/her own benefit

– Geldenhuys) or

• accrual (becomes entitled to an amount, irrespective of the fact

that the amount may only be due and payable in a later year of
assessment - Mooi) or in favour of such resident

• Excluding receipts of a capital nature

• Including the special inclusions in paras (a) to (n) of definition

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