This ruling determines the deductibility of expenditure incurred by a portfolio of a Collective Investment Scheme in Securities (CISS) as defined in section 1 of the Collective Investment Schemes Control Act, No. 45 of 2002 (the CISC Act), from income retained by it.
Please click here to view ruling (14 September 2015).
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.