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Interpretation Note 71: long service awards

Tuesday, 19 March 2013   (0 Comments)
Posted by: Herman van Dyk
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By SARS Legal & Policy

SARS issued Interpretation Note 71 on 18 March 2013.

This Note provides guidance and clarity on the income tax consequences for an employee when the employer gives an employee an asset as a long service award.

The Note focuses on the income tax treatment for an employee when an employer gives the employee an asset as a long service award. The income tax consequences will be different if an employer gives an employee a long service award in a form other than an asset.

Please click here to download IN 71.



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