8. Listed below are 4 receipts or accruals that South African taxpayers have either received or which have accrued to them in the circumstances as indicated. Establish whether each particular receipt or accrual will constitute gross income or not: (2 marks) 1. As a legacy. 2. As a lottery win. 3. As a prize from an employer for making the most sales. 4. As cash stolen by a thief. A. Number 1 and 2 is gross income B. All of the above C. Number 1 only D. Number 3 and 4 is gross income 9. Mr Josey, who is not a resident of South Africa, received a gross royalty payment of R400 000 for the use of a trademark in South Africa by Pablo Limited on 25 January 2020. What is the effect of this on Josey's taxable income in respect of his 2020 year of assessment? A. A portion of R400 000 x 25/45 will be exempted B. The R400 000 will be taxed C. The R400 000 will be fully exempted 10. One of the following is not income subject to exemption by a resident: Select one: A. Dividend B. Royalties C. Alimony D. Interest 11. When determining foreign dividend exemption, the following formula is used. A= BC B is standing for: Select one: CA Aggregate of foreign dividend B. Amount exempted C. Foreign tax D. None 12. Joe Tamza (aged 38) a resident, purchases a life annuity of R50 000. The annuity is R3 600 a year. His life expectancy is 30.41 years (based on his age on his birthday preceding the commencement of the annuity contract). Calculate the capital element subject to exemption: A. R1 644.19 B. R3 150.10 R2 145.25 13. The following ratio is used when determining dividend foreign exemption for a company or trust but not special trust: Select one: A. 25/42 B. 12/28 C. 45/28 D. 8/28 14. ACTid is a mpany in exported in South Africa. With coffeel fren 1 Sepleiben 2019, the company moved its place of ettective management to Country X. Country X deems ABC Tu lo tlak resident in cms of its comedic law. The double realybelwn Country X and South Africa deems a dual resident company to be classified as resident in the country in which the place of ettective management takes place. For what period of the year of assessment ending 31 March 2020 is ABC Ltd a tax resident ul Suuth Africa? Scle A. The entire 2020 year ot assessment Nors of the 2017 year of inscent C. 1 April 2019m 31 August 2019 D 1 September 2019 to 31 March 2020 15. A South African resident company received the following amounts during its 2020 year of assessment Local dividends R30 000 Inclinicus 25 Whal immunt if any) will txt lakatzier in the barneks tif the curripary urine the 200 peset of Select one: A R55 000 R25 000 R1 200 D Kril