Introduction to income tax in respect of companies and individuals
In this module an introduction to the administration of deceased and insolvent estates is provided. Specific emphasis is placed on the preparation of the executor's account for deceased estates as well as the trustee's account for insolvent estates. The calculation of estate duty is also dealt with in detail. Introduction to taxation, objection and appeal, gross income, source of income, gross income (special inclusions), exempt income, general deduction formula, assessed losses, special deductions for companies, special deductions for individuals, capital allowances.