"Concept", "a broad principle that provides guidance on the income tax treatment and doctrines." "Construct", "A mechanism that has been developed to implement a concept." "Doctrine", "is a construct that has been developed by the courts. Thus, constructs and doctrines are the interpretive devices necessary to apply a concept." "ability to pay concept", "The tax levied on a taxpayer should be based on the amount that the taxpayer can afford to pay" "Administrative convenience concept", "Items that are omitted from the tax base whenever the cost of implementing a concept exceeds the benefit of using it." "Arm's length transaction concept", "A transaction that is one in which all parties have bargained in good faith and for their individual benefits, not for the benefit of the transaction group." "Related party provisions (3)", "1. Individuals and their families. Family members include a spouse, brothers, sisters, lineal descendants etc.<br /> 2. Individuals and a corporation (or partnership) if the individual owns more than 50 percent of the corporation (or the partnership)<br /> 3. A corporation and a partnership if the same person owns more than 50 percent of both the corporation and the partnership." "Pay as you go concept", "Paying tax as income in generated" "", ""
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