Section 13 Of Income Tax Act

This section offers tax advantages for property investors being able to claim millions of rands back from sars.

Section 13 of income tax act. Section 13 of the income tax act no. Taxation of a charitable trust is governed under sections 11 12 13 of the income tax act 1961. Section 12a and 12aa governs the registration and its procedure.

Within section 13 of the income tax act lies a little gem. Section 11 and 12 contain the provisions of conditions to be fulfilled by the charitable trust to claim certain exemptions. 1 section 11 not to apply in certain cases 2.

Under section25bb 4 a company that is a reit or a controlled company. Section 13 in the income tax act 1995 13. 13 1 if at the end of a taxation year the total of the amounts determined for e to k in the definition undepreciated capital cost in subsection 21 in respect of a taxpayer s depreciable property of a particular prescribed class exceeds the total of the amounts determined for a to d 1 in that definition in respect of that property the excess shall be included in computing the taxpayer s income of the year.

58 of 1962 property investment and tax relief. Section 11 of the income tax act deals with the exemption of income derived from property held in trust or other legal obligations relating to religious or charitable purposes. Quin 1 refers to a building owned by the taxpayer or an improvement to a building owned by the taxpayer.

Section 13a of income tax act 1961 2017 provides for special provision relating to incomes of political parties. On the last day of the year of assessment may not claim a deduction amongst others under section 13. 1 nothing contained in section 11 3 or section 12 shall operate so as to exclude from the total income of the previous year of the person in receipt thereof.