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Exam (elaborations)

TAX2601 ASSIGNMENT 5 SEMESTER 2 2022

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This document contains TAX2601 ASSIGNMENT 5 SEMESTER 2 2022 TRUSTED Solutions

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  • assignment 5
  • semester 2
  • 2022

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QUESTION 1


Rental Sales from tenants


Rental sales from tenants qualify as gross income because they satisfy all of the elements of the gross
income definition, namely, the total amount received by, accrued to, or is in favor of the resident in cash or
otherwise during the assessment year, and it is not of a capital nature. As a result, rental income should
be included in gross income.
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