Page 14 - F6 Slide - Taxation - Lecture Day 2 Class

Special Inclusions

• Annuities

• All annuities are included in the gross income

regardless of whether they are of capital nature.

• Annuities from:

a) Insurance company

b) Granted as a gift or legacy.

c) From a sale of business or an asset or surrender

of a right.

- Fixed contractual payment on an annual basis

- Instalments do not constitute an annuity.

14