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Case Study, Gross Income Due date: 20 - 24 September 2021 Rolene Strauss (a resident) who was crowned Miss World 2014 in England won R1000
Case Study, Gross Income Due date: 20 - 24 September 2021 Rolene Strauss (a resident) who was crowned Miss World 2014 in England won R1000 000 cash, as prize money. She decided to use her cash prize money to buy a double story house in Bloemfontein, for R 950 000 She has since received rental income of R20 000 per month, which she has declared to SARS She got married to D'Niel Strauss early 2016 (out of community of property) and decided to immigrate to Australia due to the increased crime and theft rate experienced in South Africa Rolene has been victim of a burglary recently and is just too glad to have survived the incident. Due to her immigrating to Australia she decided to sell the double story house. The house was sold at R 1 500 000, to the tenants during the 2021 year of assessment REQUIRED: Marks Discuss, with reference to case law, whether the R1 500 000 that she received for the double story house should be included in gross income 30 marks or not for the 2021 year of assessment General Requirements: This is an individual case study assignment (no group work allowed). All students will present their solution to the class, via MS Teams during the week of 20 September to 24 September 2021 The best presenter will be announced at the end of the presentations Each student will be allowed 5 minutes only to present
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