Page 16 - Test 4 Slides - Individual Class Slides
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INDIVIDUALS & RING FENCING
Employee benefits (Seventh Schedule benefits)
• Paragraph (i) of the definition of gross income in
section 1 of the Act includes the cash equivalent of
the value of a taxable benefit, granted by an
employer or an associated institution, in gross
income.
• Paragraph 2 of the Seventh Schedule describes the
different types of taxable benefits and the cash
equivalents are determined in terms of paragraphs
5 to 13
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