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Interpretation Note 47: section 11(e) wear and tear allowance

05 November 2012   (0 Comments)
Posted by: SAIT Technical
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By SARS Legal & Policy

Issue 3 of Interpretation Note 47 was published on 2 November 2012.

This Note provides guidance on the application and interpretation of section 11(e) in relation to the determination of –

• the "value" of a qualifying asset on which the allowance is based; and

• acceptable write-off periods of such assets.

This Note is a binding general ruling made under section 89 of the Tax Administration Act on section 11(e) in so far as it relates to the determination –

• of the value of an asset for purposes of section 11(e); and

• the amount that will qualify as an allowance.

Click here to download INTERPRETATION NOTE 47


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