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 calculated?

When can it be deducted? Are there any other considerations?

The aim of this session is to provide you with answers to those questions. Our goal is to firstly get rid of any uncertainty or apprehension towards deferred tax. And secondly, to improve your ability to recognise the tax effect of a given balance, which will strengthen the quality of your contribution to your clients and organisation.

Content Discussed:

• 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 penalise us for charging interest?
• Section 8F and 8FA
• When is interest paid deductible?
• Disallowance of interest deductions (anti avoidance provisions)

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