The Constitutional Court (CC) held that Clicks failed to satisfy the requirements of section 24C in claiming allowances on future expenditure in terms of its loyalty programme. The CC denied such allowance, overturning the SCA’s decision. The CC’s view is that the income received by Clicks and the future expenditure did not arise from one contract, but two independent contracts.
Taxpayers may file their tax returns on 1 July 2021. Once again, SARS will carry out the auto-assessment process for selected individuals who will be notified thereof via SMS. Any taxpayer wishing to edit their return should do so via eFiling or the SARS MobiApp.
SARS has published the latest edition of Tax Practitioner Connect, the electronic newsletter for tax practitioners.
A Tax Practitioner has been sentenced to 24 months imprisonment suspended in full for three years for 48 VAT offences.
SARS has issued interpretation note 28 (issue 3) in draft. It clarifies the deduction of home office expenses incurred by persons in employment or persons holding an office. The due date for public comment is 14 June 2021.
ABC Mining claimed expenditure incurred by it in the amount of R283,368,698.23 for the purchase of prospecting rights as a deduction in terms of section 15(b) of the Income Tax Act. SARS disallowed the deduction and raised an additional assessment. ABC appealed against the additional assessment, the understatement penalty imposed and interest levied. The court found in favour of SARS.
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