Withdrawal of practice note 2 of 1996 | income tax: determination of taxable income where financial assistance has been granted by a non-resident of the Republic to a resident of the Republic.
- withdrawn on 5 August 2019 with effect from years of assessment commencing on or after 1 April 2012.
- section 31 of the Income Tax Act, 1962 was substituted by the Taxation Laws Amendment Act, 2011 with effect from years of assessment commencing on or after 1 April 2012. As this practice note and its addendum of 17 May 2002 gave guidance on section 31(3) before it was substituted, they are not applicable from the date of substitution and are accordingly withdrawn for years of assessment commencing on or after 1 April 2012.
- find a copy of the practice note here
Tax Guide for Small Businesses 2018/19
- the information in the guide concerning income tax relates to –
- natural persons for the 2019 year of assessment commencing on 1 March 2018 and ending on 28 February 2019;
- trusts in respect of years of assessment commencing and ending during the period commencing on 1 March 2018 and ending on 28 February 2019; and
- companies and CCs with years of assessment ending during the 12-month period ending on 31 March 2019.
- find a copy of the guide here
Source: This update is provided by ENSafrica, TPA Global Partner in South-Africa.
