Lml4804 assignment 4 - Study guides, Study notes & Summaries

NAME: EMMANUEL NYATI STUDENT NUMBER: MODULE: LML4804 ASSIGNMENT: 03 UNIQUE NUMBER: Question 1 The question to be answered in the set of facts given is whether Bob will be liable for Capital Gains Tax (hereinafter referred to as CGT). Another question is whether Bob‟s plan to immigrate to Ireland has an effect on Bob‟s liability for CGT. CGT became a part of South African law on 1 October 2001. It is not a separate tax but is included in the Income Tax Act1 . It governs the tax i...

LML4804 Assignment 1 Sem 1 2022. Question 1 In order to advise Mofokeng if the proceeds of the sale of the fixed property must be included in his gross income for the 2016/2017 year of assessment one has to start by analysing the definition of gross income and it various aspects. “Gross Income” “Gross income” is defined in Section 1 of the Income Tax Act 58 of 1962 which reads as follows: “‘gross income’ in relation to any year or period of assessment, means, i) in the case...