Accrued To

Question 1

Lategan

Answer 1

Even if an amount is payable in the future, the amount accrues to the taxpayer when the taxpayer becomes entitled to the amount. Once delivery has taken place, the seller becomes entitled to the full sale price.

Question 2

People’s stores

Answer 2

Accrued to = entitled to
Included in gross income when entitled to not when you receive the money.
Accrual = face value not discounted value

Question 3

Mooi

Answer 3

Accrued to = unconditionally entitled to the amount

Question 4

Witwatersrand association of racing clubs

Answer 4

An amount accrues to a taxpayer it the taxpayer has no legal obligation to pay it over to another person

Once income has accrued subsequent disposal thereof is irrelevant