A taxpayer may choose to claim an allowance in respect of a machine used in the process of manufacture  under either section 11(e) or section 12C.

For a right of use asset given to an employee where the sole or main major part over the useful life of the asset is given to the employee,  the value of the fringe benefit will be the cost of the asset.

The unutilised portion of the annual exclusion of R40 000 for capital gains cannot be carried forward to the following year of assessment.

This is a leading case on the meaning of the phrase "in the production of income''. The test is to enquire whether the expenditure was necessary for the performance or act of producing the income. The expense has to be closely connected with the income earned. 

Branches (Pty) Ltd is a South African resident company with a 31 December year end. The effective maximum rate of tax payable on the net capital gains for Branches for the year ended is 36%. 

All plant and machinery used in the process of manufacture qualify for an accelerated allowance of 40% in the year in which it has been brought into use.

A lease premium received by a landlord is included in the the gross income over the duration of the lease agreenment.

A natural person received Interest from local and foreign sources, only the South African source interest income received by the natural person may be exempt from normal tax.

When an employee receives the right of use of a motor vehicle that has been used for a completed period of at least 12 months, the value of the vehicle should be reduced by 15% using the reducing balance method.

Benjamin's employer provided him with residential accommodation with 5 bedrooms for the entire 2024 year of assessment at a monthly rental of R1 500. Benjamin is not a shareholder in

the employer company. The accommodation is unfurnished and is provided without

any services. Benjamin's remuneration from his employer in the previous year of

assessment was R400 000. What is the cash equivalent of the taxable benefit arising from Benjamin's right of occupation if the accommodation which