100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
LML4804 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 26 August 2024 CA$3.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of South Africa (Unisa)
  4.  
  5. Tax Law (LML4804)

Exam (elaborations)

LML4804 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 26 August 2024

5 reviews
 121 views  17 purchases
  • Course
  • Tax Law (LML4804)
  • Institution
  • University Of South Africa (Unisa)
  • Book
  • Silke on South African Income Tax

LML4804 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 - DUE 26 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. QUESTION 01 (Gross-income) 1.1 Freedom Movement Party (FMP) is a newly established political party which was reg...

[Show more]

Preview 1 out of 12  pages

Document information

  • August 11, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • lml4804

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

Written for

  • University of South Africa (Unisa)
  • Tax Law (LML4804)
All documents for this subject (20)

5  reviews

review-writer-avatar

By: saneleluthuli • 1 month ago

review-writer-avatar

By: moraswic • 2 months ago

review-writer-avatar

By: glennmuller7777 • 2 months ago

review-writer-avatar

By: morarek1979 • 2 months ago

review-writer-avatar

By: nobuhlezuma • 3 months ago

Seller

avatar-seller
iStudy

Reviews received

Content preview

LML4804
Assignment 1 Semester 2 2024
Detailed Solutions, References & Explanations

Unique number:

Due date: 26 August 2024
QUESTION 1

1.1.

Section 1 of the Income Tax Act defines "gross income" as:

1. The total amount, in cash or otherwise,

2. Received by or accrued to or in favour of,

3. A taxpayer during the year of assessment,

4. Excluding receipts or accruals of a capital nature.

Deposit Paid by FMP

The deposit of R150,000 paid by FMP is a clear case of income "received by" GP Media
House. According to the definition of gross income, any amount received by a taxpayer
is included in gross income, even if the service associated with that payment has not been
fully rendered.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.


Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller iStudy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$3.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you

Package deal ·

(0)

CEA201 Exam Package Deal.

CA$3.99  17x  sold
  • (5)
  Add to cart