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Grant received for further study
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2016/01/27 at 12:24:55 PM GMT
Posts: 2
Grant received for further study

Hi All


A client of mine (a medical doctor) has received a grant for an amount of R800 000 from an institution to do his PhD at Wits in a specific field. I think that this falls under exempt income and is the same as a scholarship or bursary. It specifically states that it is a "grant". He is currently in process of resigning his current position and will start full time study within the next two months.


Am I correct in my thinking?


Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.


The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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