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Proceeds from any refinance aren't taxable income, in which means you are reflecting on approximately $100,000.00 of tax-free income. You have not sold your home (which is often taxable income).you've only refinanced the program! Could most people live in such a amount of income for 12 months? You bet they can simply!
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According towards contents of her assessment, she was required to pay an extra R32000 (R=South African Rand or currency) on transfer pricing top of what she normally paid during past years - give of take 1 or 2 hundreds. After checking her documents, Industry experts her if she had earned any other income above and beyond her teaching and she said No!
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