SARS Interpretation Note (Issue 2)

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Loss of Disposal of Qualifying Depreciable Assets

Date: 29 September 2017

Act: Income Tax Act 58 of 1962

Purpose: Interpretation Note 60 (Issue 2) deals with Sections 11(o), 20B and 24M(1) of the Income Tax Act, and provides guidance, interpretation and application of section 11(o), which grants a deduction for a loss on disposal of a qualifying depreciable asset as a result of alienation, loss or destruction.

Interpretation Note 60 (Issue 2) replaces Interpretation Note 60, which was archived on 29 September 2017.

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