Page 6 - Companies & Dividend Tax
P. 6

COMPANIES & CLOSE CORPORATIONS



            SBC – Specific principles










            • Section 12E(1): manufacturing plant and machinery

                (brought into use for the first time by the taxpayer)


                written off 100% in first year of use



            • Section 12E(1A): Non-manufacturing assets written


                off 50/30/20%



            • Do not apportion for part of a year, (taxpayer may


                elect write off in terms of section 11(e))



            • Otherwise normal tax principles apply













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