Income Tax Practice Manual is the only guide to the interpretation of the Income Tax Act based on the practices of the South African Revenue Service. The work was originally based on the official Income Tax Assessing Handbook . Interpretation Notes and Guides provide insight into the prevailing practice of SARS and the Commissioner’s interpretation of the Income Tax Act.

Income Tax Practice Manual includes the full text of all interpretation and practice notes and useful SARS Guides. Illustrative examples appear throughout the publication. The work is cross-referenced to the Income Tax Act and Court decisions. The looseleaf format ensures you are always up to date with changes to legislation and other amendments.

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• Capital/revenue
• Lease expenditure
• Deductions
• Gross income
• Estates and trusts
• Rental losses
• Excessive remuneration
• Once-off transactions
• Visiting artists and sports people
• Retirement funds
• Labour brokers and independent contractors
• Accrual, due and payable
• Goodwill
• Commission
• Demutualisation of Old Mutual and Sanlam - taxability of shares
• Entertainment expenditure
• Section 24C allowances
• Fringe benefits
• Interest
• Taxation of farmers
• Legal expenses
• Non-residents and emigrants
• Allowances
• Exemptions
• Recoupments
• Source
• SARS administration procedures
• Capital gains tax