Available Course

Interest and income taxes, calculations and deductibility

>> Click here to book this training as an In-House course <<

Duration: 2.00
CPD Hours: Attendance at this seminar will secure 2 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Carmen Westermeyer
T:  0118861395
E:  gillian@probetatraining.co.za

Interest expenses and interest income are line items for virtually every single taxpayer. It is however also a section that creates serious confusion. How is this amount to be calculated? When can it be deducted? Are there any other considerations?

The aim of this session is to cover the provide you with answers to those questions. The following will be covered: • What are the common law requirements and rules with respect to debt and charging interest? • Can charging/not charging interest give rise to donations tax? • What is s24J and how do we calculate interest for income tax purposes? • How can SARS penalize us for charging interest? o Section 8F and 8FA • When is interest paid deductible? • Disallowance of interest deductions (anti avoidance provisions)

Investment managers Financial managers Auditors Bookkeeper Financial accountants Third year SAICA trainees Fourth year SAICA trainees Audit managers Audit partners Ethics officers