n Without Prejudice - Uncertain consequences : tax
|Article Title||Uncertain consequences : tax|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Webber Wentzel|
|Publication Date||Feb 2012|
|Pages||6 - 7|
Amendment to s24J in the Taxation Laws Amendment Bill
S24J of the Income Tax Act (58 of 1962) contains specific rules for the calculation and timing of the incurral and accrual of interest on debt instruments. In particular, interest is deemed to have been incurred/accrued on a "yield to maturity" basis and the deduction/accrual of the interest is spread over the term of the debt instrument.
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