LML4804 Tax Law
University of South Africa
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LML4804 INCOME TAX LAW Assignment 1 Sem 1 2022.
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---13april 20222021/2022A+
- LML4804 INCOME TAX LAW 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,...
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DoctorReinhad
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LML4804 Income Tax assignment 03.
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---11februari 20222021/2022A+
- 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...
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LOVELY01
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LML4804 TAX LAW SUMMARY NOTES
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---94februari 20222021/2022A+
- LML4804 TAX LAW 
SUMMARY NOTES. TAX LAW NOTES: 
STUDY UNIT 1 
INTRODUCTION TO TAXATION 
State Expenditure and Financing: 
State expenditure is financed through: 
1. Increasing the supply of money in the economy – minting own money; 
2. Loans; 
3. Generating own income. 
Generating states “Own Income” can be done by; 
1. Sale or lease of property; 
2. State enterprises and monopolies; 
3. Taxes, duties, levies, and user charges. 
What is tax? 
Compulsory contribution, payable in money or in...
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ExcelAcademia2026
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Tentamen (uitwerkingen)
LML4804 Assignment 1 Sem 1 2022
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---13februari 20222021/2022A+
- 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...
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$4.49 Meer Info
ExcelAcademia2026
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Tentamen (uitwerkingen)
LML4804 - Notes (Summary)
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--194oktober 20212021/2022A+
- TAX LAW NOTES: 
STUDY UNIT 1 
INTRODUCTION TO TAXATION 
State Expenditure and Financing: 
State expenditure is financed through: 
1. Increasing the supply of money in the economy – minting own money; 
2. Loans; 
3. Generating own income. 
Generating states “Own Income” can be done by; 
1. Sale or lease of property; 
2. State enterprises and monopolies; 
3. Taxes, duties, levies, and user charges. 
What is tax? 
Compulsory contribution, payable in money or in kind, to a taxing 
authority, a...
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$3.99 Meer Info
LOVELY01
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LML4804 ASSIGNMENT 1 SEMESTER 2 2020.
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---6oktober 20212021/2022A+
- 1.1 
The purchase price of the bricks will be included in Mr Nkomo’s gross 
income once it is accrued to him.The amount can be taxed either on 
receiving it or on its accrual. In Lategan v CIR the court held that, 
1 
the 
taxpayer is entitled to an accrued amount and the amount, which is 
payable in future, its present discounted value, and not its full amount, be 
included in the gross income. In CIR v Peoples Stores, 
2 
 the taxpayer sold 
goods on cash and credit. Goods that was sold on c...
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LOVELY01
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2021 October Portfolio - Tax Law (LML4804)
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---30oktober 20212021/2022
- 1.1 Without considering the different years of assessments, discuss the capital gains tax consequences of the assets belonging to Mario. [10 marks] 1.2 Discuss the capital gains tax consequences of an asset belonging to Buhle. [5 marks] SUB-TOTAL FOR QUESTION 1 [15 marks] LML4804 September/November...
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