QUESTION 1 (10 marks, 12 minutes) You are a registered tax practitioner at "Experts in Tax" and currently busy with the review of the taxable income calculation prepared by one of your clients: Investprops (Pty) Ltd ("Investprops"), a South African resident. Investprops owns investment properties from which rental income is earned. Investprops holds a 30% shareholding in Miniprops (Pty) Ltd (Miniprops), a South African resident. Investprops supplied you with an extract of the items making up its "income" (as they interpret it) reflected in the company's taxable income calculation for the year of assessment ending 31 March 2022. Extract from the taxable income calculation: \begin{tabular}{|l|c|} \hline REQUIRED: & MARKS \\ \hline Explain whether each amount should be included or not in Investprops (Pty) Ltd's "income" & 10 \\ (as defined in the Income Tax Act) for the 31 March 2022 year of assessment. No \\ calculations are required, but reasons should be provided in your discussion. You do not \\ need to refer to any case law. \end{tabular}