IN 69: Game farming (Issue 3)
SARS has released interpretation note 69 (issue 3) providing guidance on the tax implications relating to game farming, with its primary focus being the provisions applicable to livestock
Interpretation note (IN) 69 (issue 3) provides guidance on the application of selected sections of the Act and paragraphs of the First Schedule to persons carrying on game-farming operations, with its primary focus being the provisions applicable to livestock. It is not intended to deal with farming in general.
It, furthermore, includes a brief discussion on the legislative amendments affecting deceased persons and deceased estates and the transfer of assets between spouses.
Find a copy of IN 69 (issue 3) here.
13/08/2021