123 Consulting

RING-FENCING TRADING LOSSES

Top-rate taxpayers need to watch out for Section 20A. Section 20 of the Income Tax Act 58 of 1962 deals with the set-off of losses from a trade against other income. In general, such set-off is allowed (see sub-paragraph (1)(b)), provided that the loss is incurred in the taxpayer’s own name (i.e. not in a […]

We use cookies to improve your experience on our website. By continuing to browse, you agree to our use of cookies
X