n Tax Breaks Newsletter - Taxing issues

Volume 2006, Issue 249
  • ISSN :



Extracted from text ... TAXING ISSUES Kathy Thersby Editor AS WE went to press with this issue, SARS released its revised proposals regarding the new anti-avoidance legislation, which we'll discuss next month. Also noteworthy is SARS's new table of interest rates (available on www.sars.gov.za). Among the amendments is a change, with effect from 1 September 2006, to the official rate of interest in the Seventh Schedule to the Income Tax Act - the rate used to determine the fringe benefit tax payable on certain perks, for example low-interest loans - to nine per cent. Make sure your payroll department is aware of this change. ..

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