Page 10 - F6 Slide - Taxation - Lecture Day 2 Class

Gross Income

• Not of capital nature.

• Income arising from the selling of the capital

goods are not included in the gross income.

• However this does not mean that they are

entirely free from income tax.

• Capital disposals are tax under the capital

gains tax.

• How do we decide whether an asset is capital

nature?

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