Latest draft uploaded for commentLook under: 25 November 2024
| Due date for comments | Legislation | Description | Send comments to |
| 15 November 2024 | Income Tax Act, 1962 | Draft Interpretation Note Draft Interpretation Note – Public benefit organisations: Non-professional sport and recreation Explanatory Note This Note provides guidance on the interpretation and application of the public benefit activity in paragraph 9 in Part I of the Ninth Schedule to the Income Tax Act, which is described as the administration, development, co-ordination or promotion of sport or recreation in which the participants take part on a non-professional basis as a pastime. Date published: 30 September 2024 | policycomments@sars.gov.za |
| 22 November 2024 | Income Tax Act, 1962 | Draft Interpretation Note Draft Interpretation Note – Diminution in the value of closing stock Explanatory Note This Note provides guidance on the determination of the diminution in the value of closing stock, which is deducted from the cost of that closing stock for purposes of determining the value of closing stock that must be included in gross income under section 22(1)(a). This Note does not deal with the valuation of trading stock in the case of mining companies, farmers or trading stock falling under section 22(1)(b). This Note replaces Practice Note 36 “Income Tax: Valuation of Trading Stock” issued on 13 January 1995. Date published: 2 October 2024 | policycomments@sars.gov.za |
| 25 November 2024 | National Legislation | Invitation to Submit Technical Annexure C Tax Proposals for the 2025 Budget Invitation to Submit Technical Annexure C Tax Proposals for the 2025 Budget Explanatory Note National Treasury invites taxpayers, tax practitioners and members of the public to submit any technical proposals to improve or correct current tax legislation, including the closing of loopholes and technical matters applicable to the current tax legislation that require correction. Date published: 5 November 2024 | National Treasury: 2025AnnexCProp@treasury.gov.za SARS: acollins@sars.gov.za Any substantive tax proposal relating to a policy change should be addressed, separately from the technical tax proposals requested under this invitation, to Mr Christopher Axelson (Acting Deputy Director General: Tax and Financial Sector Policy) at: Christopher.Axelson@treasury.gov.za |
| 25 November 2024 New! | Customs and Excise Act, 1964 | Draft Form Draft DA 5 – List of sealable goods on board ship Explanatory Note Section 9 and the rules thereto provide for sealing of goods on board ship. In terms of this section, the master and every crew member shall declare all sealable goods on board the ship which are unconsumed stores of such ship and all sealable goods which are his personal property or in his possession. The form has been amended to align with legislation. Date published: 11 November 2024 | C&E_Legislativecomments |