Transcription of DRAFT INTERPRETATION NOTE 59 (Issue 2)
{{id}} {{{paragraph}}}
Example: quiz answers
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 .. 4 Total amount in cash or otherwise .. 5 Received 6 Accrued to .. 7 Specific inclusions in the definition of gross income .. 8 Farming subsidies [definition of gross income in section 1(1) paragraph (l)] .. 8 Government grants as defined in section 12P [definition of gross income in section 1(1) paragraph (lC)] .. 8 Receipt or accrual of a government grant - section 8(4)(a) recoupment and paragraph 20(3)(b) of the Eighth Schedule .. 8 5.
DRAFT 3 All guides and interpretation notes referred to in this Note are available on the SARS website at. www.sars.gov.za. Unless indicated otherwise, the latest issue of these documents should be consulted. 1. Purpose . This Note deals with – • the tax consequences of the receipt or accrual of government grants ;
Loading..
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: