Please state if the following amounts will be exempt, and if so, in terms if which section of the Income Tax Act (No. 58 of 1962).
1. The ANC received R100 000 from a local business man to launch its election manifesto. The ANC is registered in terms of section 15 of the Electoral Commission Act, 1996.
2. Jane is 21 years old and received South African interest of R30 000 on her favorable bank balance at ABSA.