Page 44 - P6 Slide Taxation - Lecture Day 6 - Groups, Interest And Practice Questions
P. 44

Scope of S24J



                                                                                              ONLY if incurred

                                                                                               for purposes of
      When will s24J be applicable:                                                                   trade




      • Any form of financial arrangement                                                                           Interest

                                                                                                                expenditure
      • In terms of which one taxpayer (issuer/borrower)




      • Undertakes to another (holder/lender)



      • To pay interest/a premium                                                                                   Interest



      S24J will be applicable to                                                                                    income
                                                                                                                   received

      • Natural person/trust – term of financial


            arrangement > 12 months



      • Companies – all financial arrangements
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