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Cir v peoples stores

Web[26] In CIR v Peoples’ Stores 1990 ( 2) SA 353 (A) at 365 A - B it was held that what is required for an accrual in terms of the definition of “gross income”, is that the person … WebExtra cases CSARS v People Stores - If there is an accrual, how must the outstanding amounts be valued for tax ... must be included in gross income CIR v People Stores as amended by the Income Tax Act - Taxpayer sold clothing on account - Outstanding amounts owing to the taxpayer were included in gross income because the taxpayer was entitled ...

Gross Income Notes - Gross Income Definition: In the case of ... - StuDocu

Web1. total amount. 2. in cash or otherwise. 3. received by or accrued to. - from anywhere, in the case of a person who is a resident. - from a source in SA in the case or of a nonresident person. 4. other than receipts or accruals of a capital nature. 1. total amount. - LATEGAN v CIR: the term 'amount' is not only money, but also every form of ... Web3.1 cir v peoples stores (walvis bay) (pty) ltd, 1990 (2) sa 353 (a) 24 chapter 4: specific scenarios and reported judgments 4.1 on behalf of someone else 26 ... 8 cir v golden … population of ft scott ks https://qtproductsdirect.com

Leading Tax Cases – Organised By Subject Matter – The Taxpayer

WebCIR v People’s Stores (Walvis Bay) (Pty) Ltd (1990 A) The taxpayer was a retailer of clothing, footwear, household textiles and related goods and it sold its goods to its … WebTaxation Case Law summaries (6.3) Expenditure and losses Joffe & Co (Pty) Ltd v CIR Expenditure: Voluntary outgoing/willingly incurred Loss: Involuntary outgoing/unwillingly incurred (6.4) Actually incurred Nasionale Pers Bpk v KBI; Edgars Stores Ltd v CIR; and CIR v Golden Dumps (Pty) Ltd Provisions are uncertain, expected, contingent expenses … WebCIR v Peoples Stores (Walvis Bay) (Pty)Ltd 1990 (2) SA 353 (A), 52 SATC 19. 1. Facts of Case The taxpayer was a retailer of clothing, footwear, household textiles and related … population of fwb fl

Legality and Income Tax – Is SARS ‘entitled to’ Levy Income …

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Cir v peoples stores

Case law covered 1st quarter 2016(1).pdf - Case Theme Cohen v CIR …

WebCIR v People Stores (confirmed Lategan) An amount to which a person has become entitled to, even though payment may only be made in …

Cir v peoples stores

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WebFeb 12, 2024 · In CIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 2 SA 353 (A) this uncertainty appears to have been cleared where the court reiterated the Lategan … WebExtra cases CSARS v People Stores - If there is an accrual, how must the outstanding amounts be valued for tax ... must be included in gross income CIR v People Stores as …

WebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were … WebCIR v Witwatersrand Association of Racing Clubs 1960 (3) SA 291 (A), 23 SATC 380 c. CIR v People’s Stores (Walvis Bay) (Pty) Ltd 1990 (2) SA 353 (A), 52 SATC 19 d. Geldenhuys v CIR 1947 (3) SA 256 (‘C), 14 SATC 419 8.

WebIn People’s Stores it was held that in cases in which the right to a future payment had vested in, and therefore accrued, to the taxpayer, the accrued amount for the purposes of the taxpayer’s gross income was the present value of the future payment to which it was . 4 entitled.3 The finding in ... http://www.saflii.org/za/cases/ZATC/2024/1.pdf

WebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were included in gross income because the taxpayer was entitled to them (if bad or doubtful, claim a deduction) The full amount is included in gross income, no discounting to present value allowed; MP …

WebCohen v CIR 1946 AD 174, 13 SATC 362. CIR v Epstein 1954 (3) SA 689 (A), 19 SATC 221. CIR v Kuttel 1992 (3) SA 242 (A), 54 SATC 298. Lever Bros 14 SATC 1. Rhodesia … sharky\u0027s restaurant jamaicaWebIn CIR v Peoples Stores, 2 t he taxpayer sold goods on cash and credit. Goods that was sold on credit was only payable in the following year of assessment. because the taxpayer has a vested right in the income that is payable in the following year it has to be included in the current year of assessment. population of gaborone 2021Webthe cases of CIR v Ochberg13 and Mooi v SIR,14 are then contrasted with an opposing meaning attributed to it in later case law. The opinions of two Commissions of Inquiry,15 … population of fylde coasthttp://www.saflii.org/za/cases/ZASCA/1990/1.html population of ft. wayneWebcase in par 11 (section 22(3)(a)(ii), section 22(8)(b)(v) & par 12(2)(c) and par 12(3) of the Eighth Schedule). It is now specifically provided for that, where a capital asset becomes trading stock (or vice versa), an adjustment needs to be made in the sense that there will be a deemed disposal of the capital asset (or the trading stock, if that is the case) at its … sharky\u0027s seafood and bbqhttp://www.saflii.org/za/cases/ZATC/2024/1.pdf sharky\u0027s restaurant panama city beach flWebCIR v Peoples Stores (supra), it has been accepted that an amount will accrue to a taxpayer at the moment when she became entitled to it. In CIR v Peoples Stores … sharky\u0027s restaurant panama city beach florida