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SARS Draft Int Note No.14 (issue 3) - Section 8(1) Allowances, Advances and Reimbursements

27 March 2012   (0 Comments)
Posted by: SAIT Technical
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DRAFT INTERPRETATION NOTE: NO. 14 (Issue 3)

ACT : INCOME TAX ACT NO. 58 OF 1962 (the Act)

SECTION : SECTIONS 8(1)(a); 8(1)(b) and 8(1)(c) AND PARAGRAPH 1 OF THE FOURTH SCHEDULE

SUBJECT : ALLOWANCES, ADVANCES AND REIMBURSEMENTS

Purpose

This Note provides clarity on the tax treatment of allowances, advances and reimbursements granted to employees. The Note updates and replaces Issue 2 which was published on 8 January 2008 and incorporates relevant legislation changes up to and including the Taxation Laws Amendment Act No. 24 of 2011.

To access the Interpretation Note, click here


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