Income Tax Implications Assignment | Homework For You

Busiswa Gqulu aged 31, born in Mthatha, Eastern Cape, South Africa, is a South African singer-songwriter and poet. She has been in the house-production industry for several years and one of the recognized celebrities in the Republic. She gained public recognition in a feature of one of the republic biggest deejays DJ Zinhle’s song and her performance poetry journey started when she joined the collective Young Basadzi Women of Poetry in 2005.Homework For You

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Since then, she has captivated audiences across various stages, including the National Arts Festival, Cape Town National Youth Festival and the Poetry Africa Festival where she first performed in 2010. As a new-age performance poet and singer, she has opened the stage for singers Tu Nokwe and Siphokazi and shared the stage with such artists as Ntsiki Mazwai, Mak Manaka, Lebo Mashile, Gcina Mhlophe, Ernie Smith and Concord Nkabinde, among others. Some of her career highlights include performing at the Malibongwe Dialogues held in 2008 as part of Nelson Mandela’s 90th birthday celebrations and being the resident stage presenter at a major public viewing area in Durban during the 2010 FIFA World Cup.

After a successful collaboration with Dj Zinhle, she released hits such as Ngoku, Lahla, and was featured on “Bhizer’s” hit, Gobisiqolo. On 8 December 2017, she released her debut album, Highly Flavoured, preceded by single, “Bazoyenza”. Throughout her career, she has received numerous accolades. In 2014, she was named in the Mail and Guardian’s Top 200 Young South Africans. After some time Busiswa entered into a restraint of trade agreement with his ex-employer, Banomoya KayBee Ltd (hereafter referred “BKB”), on 12 July 2017. She accepted an amount of R350 000 in consequence of the agreement, which was only paid to her on 14 April 2018.

A few days after paying the amount to her, KBK came to believe that Busiswa had not abided by the terms of her agreement which instituted a legal proceedings for damages against her and KBK won the case. The decision of the court was handed down on 19 February 2019, in terms of which Busiswa was required to pay damages to KBK amounting to R150 000 and remained subject to the original restraint of trade agreement. Busiswa paid the amount of R150 000 on 20 March 2019.

Required – Discuss and Explain income tax implications of the above information for Busiswa. Get Finance homework help today

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