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INTERPRETATION NOTE: 24 (Issue 4) ACT - SARS …

INTERPRETATION NOTE: 24 (Issue 4) DATE: 12 February 2018 ACT : INCOME TAX ACT 58 OF 1962 SECTION : SECTION 10(1)(cN) SUBJECT : PUBLIC BENEFIT ORGANISATIONS: TRADING rules PARTIAL TAXATION OF TRADING RECEIPTS CONTENTS PAGE Preamble .. 2 1. Purpose .. 2 2. Background .. 3 3. The law .. 3 4. General meaning of certain terminology in the context of section 10(1)(cN) .. 4 Basic exemption .. 4 Business undertaking .. 4 Integral and directly related .. 4 Occasional nature .. 4 Recovery of cost .. 5 Sole or principal object.

interpretation note: 24 (issue 4) date: 12 february 2018. act : income tax act 58 of 1962 . section : section 10(1)(c. n) subject : public benefit organisations: trading – partial rules

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