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Summary Gross Income definition R71,00
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  3. University Of Pretoria (UP)
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  5. BEL200 (BEL200)

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Summary Gross Income definition

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This is a colourful one pager summary of the Gross Income Definition as per Section 1 of the Income tax Act. The colour coded table format makes this so easy to learn!

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  • April 13, 2023
  • 1
  • 2022/2023
  • Summary

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Gross Income Definition BEL200


Gross Income definition
• The total amount in cash or otherwise,
• Received by or accrued to or in favour of such person
• From a source within or deemed to be within the Republic (non-residents only)
• Excluding receipts or accruals of a capital in nature
• During the YOA


In cash or otherwise
●Lategan -Wider meaning incl. every form of property >corporeal
(amount) >incorporeal
-Has $ value incl. right to receive $ in future
●Butcher Bro’s -Onus is on commissioner to prove amount
-Has ascertainable value

●Brummeria -Right to interest free loan has ascertainable value
-Quid Pro Quo

●People Stores -Every form of property incl. >debts
>rights of action
Received by
●Geldenhuys -Own behalf -> own benefit
-Usufruct
=right to enjoy use + advantages of another’s property
-Bare dominion

●Pyott -Deposit on returnable containers -> for own benefit
-Money not kept in trust
-No trust = Not in GI

●Genn & Co -Loan not in GI if immediate obligation to pay

●MP Finance -Illegal income = GI if intended own behalf + own benefit

●Delagoa Bay -Illegal source -> it is immaterial
- s23(o)

●Cot vs G -Unilateral taking ≠ received ≠ GI (thief)

Accrued to
●Lategan -Accrued to = “entitled to”

●People Stores -“Entitled to”, but not have to be
>payable
>due

●Mooi -Unconditionally entitled to
-If conditional, only GI when condition fulfilled

-Dispose before accrual? Yes, but anti-avoidance rules
-Dispose after accrual? No -> Witwatersrand
Witwatersrand = mere moral obligation
Irrelevant = GI -> should have principle + agent
During Year of Assessment
●Natural Person -1 March -> 28 February

●Not a natural -Financial year
person

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