Gross income

meyer cohn
Mind Map by meyer cohn, updated more than 1 year ago
meyer cohn
Created by meyer cohn about 6 years ago
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Description

Summary of gross income

Resource summary

Gross income
  1. Resident: total amount, in cash or otherwise, received by or accrued to or in favour of resident, that is not capital in nature.
    1. Any other person other than resident: total amount, in cash or otherwise, received by or accrued to or in favour, from a source within Republic.
      1. Summary
        1. Is there an amount in cash or otherwise?
          1. No
            1. No inclusion in gross income
            2. Yes
              1. Is the amount received by or accrued to in favour of a person?
                1. Yes
                  1. Was the amount received during the y.o.a?
                    1. No
                      1. Yes
                        1. Was amount received capital nature?
                          1. Yes
                            1. No
                              1. Is person resident of Republic?
                                1. Yes
                                  1. Amount is included in GI
                                  2. No
                                    1. Amount from a source within the Republic?
                                      1. No
                                        1. Yes
                          2. No
                    2. Income or Capital nature?
                      1. Determine intention
                        1. realisation of asset in course of carrying on a business?
                          1. pursuance of a profit-making scheme?
                            1. Change in intention
                              1. Natal Estates - Crossed the Rubicon
                            2. Fixed or floating capital?
                              1. George Forest Timber Co - Floating cap. is consumed in production; Fixed does not.
                              2. Visser - Tree vs fruit
                              3. Special inclusions
                                1. s.1(a) - (n)
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