The answer to this query
is based on legislation as at 2014/03/03.
you aware of any implementation problems with the new pre-approval system of
the R & D expenses with the DST to receive the a 11D tax incentive 150%
A: In accordance
with the amendments SARS is no longer entrusted with the responsibility of
approving or rejecting the R&D claims, as the responsibility to determine
the taxpayer’s eligibility to qualify for the additional 50% deduction now
lies with the Minister of Science and Technology.
S (2)(a)(iv) clearly
states: "expenditure is incurred on or after the date of receipt of the
application by the Department of Science and Technology for approval of that
research and development in terms of subsection (9)".
therefore suggests that the date of receipt an application may not be
back-dated. Post 1 October 2012 am I not aware of any alternative other than
the pre-approval of the incentive before it can be claimed.
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.