Page 26 - Taxation F6 - The South African Tax System
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Gross Income
• In deciding whether a receipt is income or capital
in nature is the intention of the taxpayer.
• Generally the proceeds is income in nature if you
acquired with an intention to sale it.
• If you acquired an asset with an intention to earn
rent, interest etc. The asset is capital in nature.
• Mixed intentions.
• Alternative intentions.
• Change of intentions.
• Intention of a company.
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