NEW! Updated Schedule of write-off periods acceptable to SARS

NEW! Updated Schedule of write-off periods acceptable to SARS

• 11 February 2021
• Accounting
• South African Accounting Academy

This BGR reproduces the parts of Interpretation Note (IN) 47 (Issue 5) “Wear-and-Tear or Depreciation Allowance” dated 9 February 2021 that comprise a BGR under section 89 of the Tax Administration Act.

The following parts of IN 47, which comprise a BGR, are reproduced in the Annexure:

• Paragraph 4.2 – Value of an asset for purposes of section 11(e).
• Paragraph 4.3 – Policies on the determination of the amount of the allowance.
• Annexure – Schedule of write-off periods acceptable to SARS.

Click here to download the IN 47 and BGR 7:

https://www.sars.gov.za/AllDocs/LegalDoclib/Notes/LAPD-IntR-IN-2012-47%20-%20Wear%20And%20Tear%20Depreciation%20Allowance.pdf

https://www.sars.gov.za/AllDocs/LegalDoclib/Rulings/LAPD-IntR-R-BGR-2012-07%20-%20Wear%20And%20Tear%20Depreciation%20Allowance.pdf

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