Print Page   |   Report Abuse
News & Press: SARS News & Tax Administration

Interpretation Note 71: Long Service Awards

22 March 2013   (0 Comments)
Posted by: Author: SARS Legal & Policy
Share |

Source: 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.

Please click here to download IN 71.


WHY REGISTER WITH SAIT?

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.

MINIMUM REQUIREMENTS TO REGISTER

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.

Membership Management Software Powered by YourMembership.com®  ::  Legal