Page 79 - Gross Income class slides
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GROSS INCOME
Special Inclusions
The following amounts are included in a taxpayers gross income,
even though they may be capital (paras (a) to (n) of gross income
definition in s1):
(a) Annuities (more than one periodical payments): Excludes
installments on the sale of capital assets and annual voluntary
discretionary payments
(b) Alimony and maintenance payments (included but exempt under
s10(1)(u)
(c) Services: Includes voluntary awards for services rendered (includes
employment)
(cA) Restraint of trade: Taxed in full in the recipients hands. Relief for
payer under s11(cA)
(d) Compensation for loss of office: Includes voluntary amounts
received or accrued in respect of relinquishment, termination, loss etc.
Excludes any lump sum awards from pension or provident funds.
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