Page 62 - F6 Slide - Taxation - Lecture Day 2

Set-off of assessed losses

• For individuals an assessed loss may

be carried forward even through a year

with no income.

BUT

SA Bazaars (Pty) Ltd v CIR
Robin Consolidated Industries v CIR

• A company has to carry on a trade in a year of

assessment or it may not carry forward assessed loss

from previous year (Lose assessed loss for ever)