n Tax Breaks Newsletter - Declaring income to SARS? : from the courts




As a result of this case, Treasury realised that this type of situation happens more often than was previously realised, and the 2008 Taxation Laws Amendment Act introduced a new Section 23(m) (iiA) into the Income Tax Act to specifically address issues such as this. This section provides for a deduction in the event of a taxpayer being required to refund an amount previously paid, to which it is subsequently determined that such taxpayer was never entitled to.


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