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News & Press: SARS News & Tax Administration

Interpretation Note 71: long service awards

19 March 2013   (0 Comments)
Posted by: Herman van Dyk
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By SARS Legal & Policy

SARS issued Interpretation Note 71 on 18 March 2013.

This Note provides guidance and clarity on the income tax consequences for an employee when the employer gives an employee an asset as a long service award.

The Note focuses on the income tax treatment for an employee when an employer gives the employee an asset as a long service award. The income tax consequences will be different if an employer gives an employee a long service award in a form other than an asset.

Please click here to download IN 71.


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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