Income Tax Act, 1962 (Act No. 58 of 1962)Practice NotesWithdrawal of Practice Notes 8 and 16 |
NOTICE: WITHDRAWAL OF PRACTICE NOTES
1 January 2012
SARS has embarked on a process to review and either withdraw or replace the existing Practice Notes.
As part of this process notice is hereby given that the Practice Notes listed in the schedule below will be withdrawn with effect from the dates as indicated below.
Special requests not to withdraw certain Practice Notes or issue Interpretation Notes on specific topics can be forwarded to [email protected].
SCHEDULE
PRACTICE NOTE |
DATE ISSUED |
SUBJECT |
REASON |
8 |
30 December 1988 |
Income Tax: Deduction in respect of finance charges in terms of section 11(bB) of the Income Tax Act, 1962. |
Section 11(bB) was deleted by section 14(1)(a) of the Taxation Laws Amendment Act No. 17 of 2009 This provision is repealed because it is obsolete in view of the enactment of section 24J. The withdrawal date of this Note is the same as the effective date of the deletion of section 11(bB), namely from the commencement of years of assessment ending on or after 1 January 2010. |
16 |
12 March 1993 |
Income Tax: Deduction in terms of section 12C of the Income Tax Act in respect of certain foundations or supporting structures |
This Note is obsolete in view of the amendment to section 12C by way of the Taxation Laws Amendment Act No. 24 of 2011. This Note is withdrawn with effect from the commencement of years of assessment ending on or after 1 January 2012. |