1887

n Tax Breaks Newsletter - New tax-exemption rules for recreational clubs : recreational clubs

Volume 2006, Issue 250
  • ISSN :
USD

 

Abstract

Extracted from text ... RECREATIONAL CLUBS New tax-exemption rules for recreational clubs By ERLE KOOMETS THE DRAFT Revenue Laws Amendment Bill, 2006 contains new provisions in regard to the taxexempt status of recreational clubs. Hitherto, social and recreational clubs were tax-exempt under the skimpy and somewhat vague provisions of section 10(1)(d)(iv)(aa) of the Income Tax Act. Anomalously, recreational clubs were in some respects treated more generously for tax purposes than were public benefit organisations. This factor, together with the fact that many such clubs were allowing their facilities to be used by the general public, and not just by members, has caused the SA Revenue Service to tighten up the tax rules. Under the new legislative provisions, recreational clubs will become subject to a system of partial taxation, and will ..

Loading full text...

Full text loading...

Loading

Article metrics loading...

/content/montb/2006/250/EJC78310
2006-11-01
2017-01-19

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error