Page 12 - P6 Slide Taxation - Lecture Day 5 - Trading stock
P. 12
Anti-avoidance
• A taxpayer sells a copying machine (with a
cost price of R25 000) for R50 000. In the sales
contract he stipulates that he will retain a 10%
ownership interest in the machine.
• Section 23F(3) will be applicable and there will
be a recoupment of R2 500 (R25 000 × 10%)
included in the taxpayer’s income.
•
DEEMED RECOUPMENT
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