Cir v peoples stores
WebIn 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. 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 ...
Cir v peoples stores
Did you know?
WebCIR 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 … 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 …
WebUnformatted text preview: Principles from case law Principles from the following tax cases were covered in Tax I Relevant to Definition of gross income Definition of gross income Definition of gross income Definition of gross income Words or phrase Considered Resident Amount 'from a source within ... the Republic' accrued to Name of the court … 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 …
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 … WebIn CIR v People’s Stores, this uncertainty appears to have been cleared where the court reiterated the Lategan-principle (see Lategan v CIR (1926) CPD 203, 2 SATC 16) and ruled that the concept ‘accrued to’ denotes that the taxpayer must be unconditionally entitled to …
WebCIR v People Stores (confirmed Lategan) An amount to which a person has become entitled to, even though payment may only be made in …
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 … diablo 2 how to beat baal minionsWebIn 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 ... cinemark theatres sherman town centerWebLeading Tax Cases – Organised By Subject Matter. [7] Savage v CIR 1951 (4) SA 400 (A), 18 SATC 1, 1952 Taxpayer 15. [8] CIR v Lazarus’ Estate 1958 (1) SA 311 (A), 21 SATC … cinemark theatres seatsWebFeb 22, 1990 · South Africa: Supreme Court of Appeal. 1. HEFER JA: This is an appeal in terms of sec 86 A (2) (b) of the Income Tax Act 58 of 1962, as amended, ("the Act") … PEOPLE'S STORES (WALVIS BAY) (PTY) LIMITED RESPONDENT CORAM : … diablo 2 how to beat diablo with necromancerWebFeb 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 … cinemark theatres settlers ridge paWebCIR v People Stores as amended by the Income Tax Act. Taxpayer sold clothing on account; Outstanding amounts owing to the taxpayer were … diablo 2 how to farm mal runeWebJul 14, 2024 · Judgment was delivered in the tax court on 30 May 2024 in the matter of M v Commissioner for the South African Revenue Service (case number 14005, as yet … cinemark theatres senior day