Page 27 - Gross Income class slides
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GROSS INCOMEOSS INCOME
GR
Accrued to
Example 5
• Warren works at Exclusive Books, a lifelong dream. In terms of his letter
of employment he is entitled to take R800 worth from the store each
month for his personal use and ownership. In January he purchased a
Kindle and did not take any books from the store. Will there be any
implications to this?
Solution:
• Warren did not take books in January but he is still unconditionally
entitled to it. He will thus have to include R800 as gross income for the
month of January and for each month that he is unconditionally
entitled to the amount.
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