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Interpretation Note 64 (issue 2): tax exemption of bodies corporate, share block companies

Tuesday, 06 November 2012   (0 Comments)
Posted by: SAIT Technical
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By SARS Legal & Policy

Issue 2 of Interpretation Note 64 was published on 6 November 2012. This note provides guidance on the application of the section 11(1)(e) exemption. Section 10(1)(e) exempts from income tax the levy income of a body corporate, a share block company and an association of persons. It also provides an exemption for these entities of an amount up to a maximum of R50 000 for all their receipts and accruals other than levy income (the basic exemption).

Please click here to download IN 64.



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