Tips held for safekeeping by employers and subsequently paid over to employees at regular intervals
Note: This ruling has been replaced by the addition of a clarifying note in point 9 as a result of the confusion that has arisen in the media regarding the taxability of tips. No factual information has been amended.
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.