Jabu Mabunda is a 39-year-old resident of South Africa. He inherited a house situated in Sandton from his grandfather. As he works in Durban he decided to sell the house for R700 000. On this sale, he made a gain of R100 000 as the value of the house was estimated at R600 000 by the property valuator. The house was sold on 31 July 2020. Immediately after he received the money from the sale of the house, he invested it with Standard Bank. By 31 March 2021, his investment account had already accumulated an interest of R33 432. 

You are required to discuss whether or not the amounts received by Jabu will form part of his gross income for the year ended 28 February 2022

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Jabu Mabunda is a 39yearold resident of South Africa He inherited ... View the full answer