DRAFT INTERPRETATION NOTE 59 (Issue 2)
DRAFT DRAFT INTERPRETATION NOTE 59 (Issue 2) DATE: ACT : INCOME TAX ACT 58 OF 1962 SECTIONS : SECTIONS 1(1) DEFINITION OF GROSS INCOME , 12P AND THE ELEVENTH SCHEDULE SUBJECT : tax treatment OF THE RECEIPT OR ACCRUAL OF GOVERNMENT GRANTS CONTENTS PAGE Preamble ........................................ ........................................ ........................................ ...... 2 1. Purpose ........................................ ........................................ ..................................... 3 2. Background ........................................ ........................................ ............................... 3 3. The law ........................................ ........................................ ...................................... 4 4. Application of the law ........................................ ........................................ ................. 4 Section 1(1) Definitions of gross income and income.
draft . draft interpretation note 59 (issue 2) date: act : income tax act 58 of 1962 . sections : sections 1(1) – definition of “gross income”, 12p and the eleventh schedule . subject : tax treatment of the receipt or accrual of government grants . contents . page . preamble
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