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South Africa decisions
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XYZ (Pty) Ltd v Commissioner for the South African Revenue Service (IT 24790) [2021] ZATC 23; 84 SATC 432 (15 October 2021)
The Tax Court held that accrued leave and bonus pay were deductible only when paid under section 7B, and that notice and severance pay were not deductible under section 11(a).
A Co. Limited and Another v Commissioner for the South African Revenue Service (12323; 12324) [2009] ZATC 3; 72 SATC 61 (14 May 2009)
The court held that the appellant was not entitled to deduct the contingent liabilities assumed by the purchaser as expenditure under section 11(a) of the Income Tax Act. The liabilities in question were conditional and had not materialised at the time of sale, and thus did not constitute expenditure actually incurred. The court found that the transaction resulted in an increase, not a diminution, of the appellant's patrimony, as the purchaser assumed the risk of the liabilities and the appellant received a net cash amount. The expenditure was not incurred in the production of income, was of…
Source excerpt
Commissioner for South African Revenue Service v BP South Africa (Pty) Ltd (92/05 , 92/05) [2006] ZASCA 61; [2006] 4 All SA 523 (SCA); 2006 (5) SA 559 (SCA); 68 SATC 229 (25 May 2006)
The Supreme Court of Appeal held that interest on a shareholder loan was deductible under section 11(a), but prepaid rental for long leases was capital in nature.
Commissioner For The South African Revenue Service v Scribante Construction (Pty) Ltd (026/2001) [2002] ZASCA 161; 2002 (4) SA 835 (SCA); 64 SATC 379 (14 May 2002)
South Africa’s Supreme Court of Appeal held that interest on shareholder loan accounts credited with dividends was deductible under section 11(a) and not barred by section 23(g).
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