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2021 - Tax 1

This class was created by Brainscape user Ethan Adams. Visit their profile to learn more about the creator.

By: Ethan Adams
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Decks in this class (15)

Week 1 - Basics
How to get to taxable income,
What is gross income,
What is exempt income
12  cards
Week 2 - Received By/Accrued To
Gross income definition,
Onus to establish monetary amount,
Total amount
15  cards
Week 3 - Capital in Nature
Not of a capital nature,
Taxable capital gains of a company,
Intention of the taxpayer
14  cards
Week 3 - Residence
Resident vs non res taxation,
When is a natural person resident,
When is an individual ordinarily ...
24  cards
Week 4 - Exemptions
Local interest exemption for non ...,
Interest withholding tax for non res,
Local int exemption for residents
13  cards
Week 4 - Special Inclusions
Restraint of trade payments must ...,
What is the definition of service...,
What is services rendered accordi...
5  cards
Week 5 - General Deductions
Can you have deductions if you ha...,
Two tests in the general deductio...,
Preamble of s11a
15  cards
Week 7 - s23g Deductions
S23g rules for deductions,
Apportionment in s23 g,
Case law principles on trade expe...
37  cards
Week 8 - Prepaid Exp & Trading Stock
What does s23h say,
When can we not apply s23h,
S1 definition of trading stock
17  cards
Final Exams
Total amount in cash or otherwise,
Onus of proving monetary amt,
If paid my non monetary means
118  cards
Week 9 - Capital Allowances
Moveable property allowances,
Immoveable property allowances,
Property used directly in manufac...
44  cards
Week 9 - Sale of Depreciable Assets
How to determine tax value,
When and what is recoupment,
When and what is scrapping allowance
11  cards
Week 11 - Capital Gains Tax
When is a resident subject to cgt,
When is a non resident subject to...,
Four requirements for there to be...
22  cards
Week 12 - Individuals
Format for calculating taxable in...,
Three categories of individuals,
Limitations for employees
31  cards
List of Transactions
Annuities received,
Alimony maintenance rec,
Payments rec for services rendered
104  cards

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2021 - Tax 1

  • Class purpose General learning

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