SARS issued this draft Interpretation Note for public comment on the 26th of March 2015.
This draft Interpretation Note provides guidance and clarity on the treatment of maintenance orders and the tax-on-tax principle relating to maintenance orders that retirement funds pay while a member is still a contributing member and has not left the retirement fund.
SAIT will be making a submission to SARS on this draft Interpretation Note. Should you have any commentary that you would like the Institute to consider for its submission, please send it to email@example.com by no later than the 10th May 2015.
Please click here to access the draft Interpretation Note.
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.