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
LPC Income Tax (HIGH DISTINCTION) $10.38   Add to cart
Quickly navigate to
Preview
  2.  
  3. University Of Law (ULaw)
  4.  
  5. University Of Law
  6.  
  7. LPC

Class notes

LPC Income Tax (HIGH DISTINCTION)
 13 views  0 purchase
  • Course
  • LPC
  • Institution
  • University Of Law (ULaw)

These notes are perfect for anyone sitting the LPC wills and administration exam. I achieved a high distinction in the exam due the the detailed notes. They contain a step by step structure for calculations useful for the exams.

Preview 1 out of 4  pages

Document information

  • March 21, 2022
  • 4
  • 2021/2022
  • Class notes
  • Daniela saretti
  • All classes

Subjects

  • lpc
  • wills
  • wills
  • administration
  • exams notes
  • postgraduate
  • detailed notes
  • lpc exam
  • lpc wills exam
  • lecture notes

Written for

  • University of Law (ULaw)
  • University of Law
  • LPC
All documents for this subject (74)

Seller

avatar-seller
nishtapandit19

Content preview

INCOME TAX
An individual may be subject to income tax and CGT. Income is taxed through income tax, capital
growth is taxed through CGT.

There is no statutory definition of income tax. Instead, income tax is recognised through its
characteristics




NOTE: a transaction that is income in nature to one person may be capital to another. For example,
for most people selling an antique is the sale of a capital asset, but for an antique dealer selling
antiques from their shop it would be income in nature.

The main principles of income tax are contained in the Income Tax Act 2007.
 The actual rates for tax for each year are set out in the Budget, and taxes charged on any
income arising in a tax year.
 The tax year runs from 6th April - 5th April in the following year.



Calculating Income Tax

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 nishtapandit19. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.38. 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
$10.38
  • (0)
  Add to cart