Gross Income and Fringe Benefits

The starting point when determining the tax payable by any taxpayer, is to determine Gross Income.  We study the definition provided in Section 1 of the Income Tax Act that will enable you to correctly calculate and determine the Gross Income of a taxpayer.  We then study specific inclusion defined in the Income Tax Act that must be included in Gross Income, even if we feel that the specific item does not qualify in terms of the broader definition.

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