The session shall include a general discussion in connection with the determination of chargeable income and how it could differ from accounting profit.
During the seminar, we will be discussing the distinction between income and capital gains and how ‘badges of trade’ assist in making this distinction. We will go through various examples that will highlight why making this distinction is important.
We will also discuss the different classifications of income together with an overview of the different types of gains that are subject to tax in terms of the Income Tax Act.
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