Darren Britz

SARS Interpretation Note (Issue 2)

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Loss of Disposal of Qualifying Depreciable Assets

Date: 29 September 2017

Act: Income Tax Act 58 of 1962

Purpose: Interpretation Note 60 (Issue 2) deals with Sections 11(o), 20B and 24M(1) of the Income Tax Act, and provides guidance, interpretation and application of section 11(o), which grants a deduction for a loss on disposal of a qualifying depreciable asset as a result of alienation, loss or destruction.

Interpretation Note 60 (Issue 2) replaces Interpretation Note 60, which was archived on 29 September 2017.

For access to the entire note please click here